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Jindal Steel and Power Ltd’s (JSPL) fourth quarter net profit fell 47 per cent to ₹402.50 crore over the corresponding last quarter on lower sales and higher interest costs.
Revenues for the quarter were down 10 per cent at ₹5,102.56 crore over the corresponding last quarter’s ₹5,684.44 crore. EPS stood at ₹20.53 against ₹31.13.
Tracking the fourth quarter performance, the JSPL shares ended 7.41 per cent lower at ₹253.20 on the BSE on Tuesday. The board recommended a dividend of ₹1.50 a share (150 per cent on par value of ₹1 each)
For the full year, the company saw a 34 per cent decline in net profit from ₹2,910.11 crore in 2012-13 to ₹1,910.36 crore in 2013-14. Revenues for the fiscal were up by a mere one per cent at ₹20,004.04 crore over the corresponding last year.
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