Jindal Steel and Power Ltd on Tuesday reported 69.3 per cent decline in net profit (attributable to the owners) to ₹462.5 crore for the quarter ended March 2023. This is against a net profit of ₹1,510.90 crore in the corresponding quarter last fiscal.
Jindal Steel and Power Ltd on Tuesday reported 69.3 per cent decline in net profit (attributable to the owners) to ₹462.5 crore for the quarter ended March 2023. This is against a net profit of ₹1,510.90 crore in the corresponding quarter last fiscal.
The consolidated revenue from operations was down by 4.5 per cent to ₹13,691.9 crore for the quarter under review from ₹14,340 crore in the year ago period, said Jindal Steel and Power Ltd (JSPL) in its filing.
The consolidated revenue from operations was down by 4.5 per cent to ₹13,691.9 crore for the quarter under review from ₹14,340 crore in the year ago period, said Jindal Steel and Power Ltd (JSPL) in its filing.
The company’s board has recommended final Dividend for FY23 of ₹2 per equity share of face value Re.1 each. It is subject to the approval of the shareholders in the ensuing Annual General Meeting and other authorities, wherever required.
The company’s board has recommended final Dividend for FY23 of ₹2 per equity share of face value Re.1 each. It is subject to the approval of the shareholders in the ensuing Annual General Meeting and other authorities, wherever required.
The earnings before interest, tax, depreciation and amortisation (EBITDA) for the March quarter stood at ₹2,240 crore despite sharp increase in raw material costs.
The earnings before interest, tax, depreciation and amortisation (EBITDA) for the March quarter stood at ₹2,240 crore despite sharp increase in raw material costs.
The company reported production of 2.02 mt during the quarter, down 2 per cent on a sequential basis. However sales stood at 2.03 mt, up by 7 per cent QoQ.
The company reported production of 2.02 mt during the quarter, down 2 per cent on a sequential basis. However sales stood at 2.03 mt, up by 7 per cent QoQ.
Exports accounted for 11 per cent of the total sales volume during the quarter compared to 5 per cent in the third quarter reflecting a revival in exports post withdrawal of export duty.
Exports accounted for 11 per cent of the total sales volume during the quarter compared to 5 per cent in the third quarter reflecting a revival in exports post withdrawal of export duty.
For FY23, production was down to 7.89 mt as against 8.01 mt in FY22. Total sales (including pig iron) stood at 7.68 mt compared to 7.64 mt in FY22, despite imposition of export duty on steel exports which led to a decline of 60 per cent in exports volume.
For FY23, production was down to 7.89 mt as against 8.01 mt in FY22. Total sales (including pig iron) stood at 7.68 mt compared to 7.64 mt in FY22, despite imposition of export duty on steel exports which led to a decline of 60 per cent in exports volume.
“JSP’s balance sheet is the strongest amongst the large integrated steel players in India and our leverage ratios are also amongst the lowest compared to the large integrated steel players in India despite volatile macro environment. Our focus on cash generation is one of the key factors driving our growth. We are on track with our stated growth plans and are working towards making our Angul Integrated steel complex as more cost competitive with the opening of coal mines at Utkal-c in near future”, said Bimlendra Jha, Managing Director, Jindal Steel & Power.
“JSP’s balance sheet is the strongest amongst the large integrated steel players in India and our leverage ratios are also amongst the lowest compared to the large integrated steel players in India despite volatile macro environment. Our focus on cash generation is one of the key factors driving our growth. We are on track with our stated growth plans and are working towards making our Angul Integrated steel complex as more cost competitive with the opening of coal mines at Utkal-c in near future”, said Bimlendra Jha, Managing Director, Jindal Steel & Power.
On Tuesday, the company’s scrip ended 2.28 per cent down at ₹561.95 on BSE.
On Tuesday, the company’s scrip ended 2.28 per cent down at ₹561.95 on BSE.
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