JSPL's Q4 consolidated net loss at Rs 426 cr

Jindal Power and Steel (JSPL) on Wednesday reported a consolidated net loss of Rs 426 crore for the quarter ended March 31, 2018 due to expenses incurred on a one-time exceptional item.

The company had reported a net loss of Rs 98 crore during the corresponding period of the previous year.

According to the company, its turnover for the quarter ended March 31, 2018 increased by 27 per cent to Rs 8,599 crore from Rs 6,756 crore for Q4 of the previous year.

"JSPL produced 1.72 million tonnes on the consolidated level (up 32 per cent from 1.30 million tonnes in 4QFY17) and sold 1.66 million tonnes (up 27 per cent from 1.31 million tonnes in 4QFY17)," the company said in a statement.

"JSPL reported consolidated revenues of Rs 8,599 crore (up 27 per cent YoY) while consolidated EBITDA increased to Rs 2,136 crore from Rs 1,552 crore (in 4QFY17), up 38 per cent YoY."

On the fiscal basis, the company reported a decline in its standalone net loss for the financial year ended March 31, 2018. The net loss decreased to Rs 1,624 crore from Rs 2,540 crore reported for the previous corresponding period.

In addition, the company reported that its turnaround for the year ended March 31, 2018 increased by 23 per cent to Rs 27,841 crore from Rs 22,696 crore for the year ended on March 31, 2017.

"The overall EBITDA for FY18 stood at 23 per cent vs. 21 per cent for FY17, supported by better operating profits across all its steel and power business globally," the statement said.

"As of year ended 31st March 2018, JSPL consolidated net debt was at Rs 42,000 crore levels."

--IANS

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