Jindal Steel & Power falls 8% on profit booking post Q4 results

Thus far in the calendar year 2018, JSPL had outperformed the market by surging 28% as compared to 3.7% rise in the Sensex till Wednesday.

Shares of Jindal Steel & Power (JSPL) have declined 8% to Rs 241 per share on the BSE in noon deal trade on profit booking after the company reported a consolidated net loss of Rs 4.26 billion for the last quarter of financial year 2017-2018 (Q4FY18). This is over four times the net loss of Rs 983 million reported by the company in the corresponding quarter of financial year 2016-2017 (Q4FY17).

The net loss of the company widened during the quarter, mainly on account of a one-time expense of Rs 4.38 billion due to certain demands and claims from