Jindal Steel & Power gains after Q1 net loss narrows

Jindal Steel & Power rose 1% to Rs 141 at 12:51 IST on BSE after the company's net loss narrowed in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 132.64 points, or 0.41% to 31,881.55.

On the BSE, 12.93 lakh shares were traded in the counter so far, compared with average daily volumes of 14.70 lakh shares in the past one quarter. The stock had hit a high of Rs 143.60 and a low of Rs 138.45 so far during the day. The stock hit a 52-week high of Rs 159 on 2 August 2017. The stock hit a 52-week low of Rs 62.55 on 9 November 2016.

 

The stock had outperformed the market over the past one month till 8 August 2017, rising 3.83% compared with 0.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.33% as against Sensex's 5.84% rise. The scrip had also outperformed the market in past one year, rising 69.95% as against Sensex's 13.99% rise.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Re 1.

On a consolidated basis, Jindal Steel & Power (JSPL) reported net loss of Rs 420.46 crore in Q1 June 2017, lower than net loss of Rs 1238.11 crore in Q1 June 2016. Net sales rose 23.61% to Rs 5607.27 crore in Q1 June 2017 over Q1 June 2016.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 33% to Rs 1353 crore in Q1 June 2017 over Q1 June 2016.

JSPL has a dominant presence in steel, power, mining and infrastructure sectors. It caters to markets across the steel value chain.

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