Jindal Steel & Power rallies after Q4 PAT soars to Rs 933 cr

Jindal Steel & Power jumped 3.19% to Rs 969.30 after the company 's consolidated net profit stood at Rs 933 crore , steeply higher than Rs 466 crore posted in corresponding quarter last year.

Revenue from operations fell 1.5% to Rs 13,486.96 crore in Q4 FY24 as compared with Rs 13,691.93 crore in Q4 FY23.

Profit before tax jumped 44.45%YoY to Rs 1,163.52 crore in Q4 FY24.

The companys EBITDA, adjusted for one-off FX loss of Rs 68 crore, for Q4 FY24 was Rs 2,512 crore (up 12.14% YoY). It was driven by reduction in raw material cost, partly offset by lower NSR during the quarter

The production and sale of steel stood at 2.05 million tonnes (MT) (up 1.49% YoY) and 2.01 MT (down 0.99% YoY), respectively.

Share of exports remained stable at 11% in Q4 FY24 as compared with Q4FY23.

During the quarter, the total capex was Rs 2,523 crore and net debt stood at Rs 11,203 crore.

On full year basis, the companys consolidated net profit jumped 86.13% to Rs 5,943 crore despite 5.09% decline in revenue from operations to Rs 52,711.18 crore in FY24 over FY23.

Meanwhile, the companys board has declared a final dividend of Rs 2 per equity share for FY24.

Jindal Steel & Power is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.

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