May 12, 2021
The Jindal Steel & Power Ltd plant in Raigarh, Chhattisgargh - Bloomberg×
Buoyed by upcycle in global steel prices
After six years in the red, Jindal Steel and Power Ltd (JSPL) on Wednesday said it has closed the financial year 2020-21 with a net profit of ₹5,527 crore. The strong rebound in bottomline has been aided by the ongoing upcycle in global steel prices, which is reflected in the uptrend in domestic prices as well.
In the previous financial year, JSPL had reported ₹ 574 crore net loss.
The firm’s annual production of steel including pig iron rose 19 per cent year-on-year to 7.51 million tonnes, while the production of pellets rose by 6.6 per cent to 7.28 million tonnes, JSPL said in a statement.
Jindal Steel and Power Q3 results: Posts profit of Rs 2,432 crore, revenue up 39%
JSPL Q3 results: The consolidated revenue jumped by 40 per cent to Rs 10,534 crore compared to Rs 7,526 crore in Q3 FY20, driven by strong performance in India steel as well as power business
Chitranjan Kumar | January 21, 2021 | Updated 17:38 IST
Jindal Steel and Power reports PAT at Rs 2,432 crore in December quarter
Jindal Steel and Power Ltd (JSPL) on Thursday reported a consolidated net profit after tax (PAT) at Rs 2,432 crore for the third quarter ended December 31, 2020, on the back of improvement in operating and financial leverage. The steel and energy company had posted net loss of Rs 257 crore in December quarter of 2019, JSPL said in a regulatory filing on Thursday.
JSPL posts ₹2,567-cr profit in Q3 on higher pent-up demand
January 21, 2021
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The pent-up demand arising post the unlocking of the economy and hardening steel prices has aided Jindal Steel and Power Ltd (JSPL) in reporting consolidated net profit of ₹2,567 crore in the third quarter ended December 31, 2020 as compared to a net loss of ₹219 crore in the same quarter last fiscal.
The company’s decision to keep operating the plant even during Covid-19 times bolstered the bottomline, a top company official said.
The consolidated net revenue in December quarter stood at ₹10,534 crore, registering year-on-year growth of about 40 per cent. The firm’s standalone production of steel, including pig iron, rose to 1.93 million tonnes in the December quarter, a year-on-year growth of about 20 per cent. This is the highest ever standalone steel production volume for the firm.