JSPL advances after declaring Q1 result

Jindal Steel & Power rose 2.86% to Rs 282.10 at 09:16 IST on BSE after declaring Q1 result after market hours on Wednesday, 6 August 2014.

Meanwhile, the S&P BSE Sensex was down 41.80 points or 0.16% at 25,623.47

On BSE, so far 90,766 shares were traded in the counter as against average daily volume of 3.66 lakh shares in the past one quarter.

The stock hit a high of Rs 283.50 and low of Rs 276 so far during the day. The stock had hit a 52-week high of Rs 350 on 9 June 2014. The stock had hit a 52-week low of Rs 189.65 on 7 August 2013.

The large-cap company has equity capital of Rs 91.49 crore. Face value per share is Re 1.

Jindal Steel & Power (JSPL)'s consolidated net profit fell 15.4% to Rs 418.13 crore on 10.3% increase in total income to Rs 5068.79 crore in Q1 June 2014 over Q1 June 2013. JSPL said that consolidated net profit in Q1 June 2014 was hit by a major increase in depreciation and financing costs as well as restructuring costs associated with its mining operations in Australia.

EBITDA (earnings before interest, taxes, depreciation and amortization) rose 25% to Rs 1629 crore in Q1 June 2014 over Q1 June 2013. EBITDA margin increased to 33% in Q1 June 2014 compared with 29% in Q1 June 2013.

Total production of steel products rose 13% to 800,522 MT on 11% increase in sales to 737,471 MT in Q1 June 2014 over Q1 June 2013, JSPL said in a statement.

JSPL's subsidiary Jindal Power reported 39% fall in net profit to Rs 195 crore on 9% increase in turnover to Rs 702 crore in Q1 June 2014 over Q1 June 2013. EBITDA rose 1% to Rs 427 crore in Q1 June 2014 over Q1 June 2013. EBITDA margin increased to 61% in Q1 June 2014 compared with 65% in Q1 June 2013. Power generation increased 29% to 1,682 kWh in Q1 June 2014 over Q1 June 2013.

JSPL is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure.

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