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Jindal Steel and Power Ltd reported a 38 per cent fall in net profit to ₹860 crore for the quarter ending September 30. Consolidated net profit in the year-ago-period was at ₹1,390 crore.
Net profit dipped on account of lower sales. Net revenues stood at ₹11,529 crore, down 5 per cent y-o-y. Net revenues stood at ₹12,108 crore in the year-ago-period.
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The Naveen Jindal-promoted company reported steel production of 1.97 million tonne (mt), up 4 per cent y-o-y, while sales were at 1.85 mt, down 8 per cent y-o-y.
Adjusted Ebitda was ₹2,124 crore, down 4 per cent y-o-y, after being adjusted for one-off foreign exchange gains of ₹76 crore during the quarter.
Exports for the period stood at 9 per cent.
The company said its net debt stood at ₹12,464 crore as on September 30. The total capex for the quarter was ₹2,642 crore, largely driven by the expansion projects at Angul.
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