Jindal Steel and Power Ltd reported a 38 per cent fall in net profit to ₹860 crore for the quarter ending September 30. Consolidated net profit in the year-ago-period was at ₹1,390 crore.
Net profit dipped on account of lower sales. Net revenues stood at ₹11,529 crore, down 5 per cent y-o-y. Net revenues stood at ₹12,108 crore in the year-ago-period.
- Also read:Jindal Steel bets big on green hydrogen
The Naveen Jindal-promoted company reported steel production of 1.97 million tonne (mt), up 4 per cent y-o-y, while sales were at 1.85 mt, down 8 per cent y-o-y.
Adjusted Ebitda was ₹2,124 crore, down 4 per cent y-o-y, after being adjusted for one-off foreign exchange gains of ₹76 crore during the quarter.
Exports for the period stood at 9 per cent.
The company said its net debt stood at ₹12,464 crore as on September 30. The total capex for the quarter was ₹2,642 crore, largely driven by the expansion projects at Angul.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.