Naveen Jindal-promoted Jindal Steel and Power Ltd (JSPL) saw a 62 per cent increase in post-tax profit, y-o-y, to ₹1,282 crore for the quarter-ending March 31, 2024. The standalone net profit in the year-ago-period was ₹789 crore.

The company’s gross revenue for the period under review stood at ₹15,847 crore.

On a consolidated basis, net profit increased 100 per cent y-o-y to ₹933 crore for the quarter under review. Revenue stood at ₹15,749 crore.

Production and sales for the quarter stood at 2.05 million tonnes (mt) and 2.01 mt, respectively.

The company in a statement said, share of exports remained at 11 per cent, same as the previous fiscal.

Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) for Q4FY24 stood at ₹2,512 crore, adjusted for one-off foreign exchange loss of ₹68 crore. “EBITDA was driven by reduction in raw material cost, partly offset by lower NSR,” JSPL’s statement said.

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For the fiscal, the steel-maker saw its standalone profit increase 117 per cent y-o-y to ₹5,273 crore. Revenue was ₹57,504 crore. On a consolidated bases, net profit was up 86 per cent y-o-y to ₹5,943 crore, while revenue was at ₹58,115 crore in FY24.

Net debt stood at ₹11,203 crore for Q4FY24, up from the ₹9,115 crore in Q3FY24. Net debt to EBITDA at 1.10.

“Increased debt reflects higher payments on account of completion of several projects in line with capex program,” the company statement said. Capex for the quarter was ₹2,523 crore; while for FY24 it was ₹8,517 crore. During the year, the company commissioned its Hot Strip Mill of 6 mtpa and and pellet plant of 6 mtpa.