Naveen Jindal-promoted JSPL reported an over 4 per cent year-on-year increase in standalone net profit at ₹1,457 crore for the quarter-ending June 30, 2024. Net profit in the year-ago-period was ₹1,400 crore.
The company saw a 4.4 per cent increase in net revenue, y-o-y, to ₹12,865 crore. Net revenue in the same period last fiscal was ₹12,325 crore.
Adjusted Earnings Before Interest, Tax, Depreciaton and Amortisaion (EBITDA) stood at ₹2,694 crore.
Steel production during the quarter was 2.05 million tonnes (mt), while sales were at 2.09 mt, the company said in a notification to the bourses.
“Performance was driven by higher sales volume and reduction in costs,” the steel-maker said in a statement.
JSPL’s net debt stood at ₹10,462 crore as on June 30, lower than the ₹11,203 crore it had reported during FY24-end. The net debt to EBITDA stood at 1.0x as on June 30.
“Balance sheet continues to strengthen while supporting the ongoing capex,” it said in a statement, adding that total capex for the quarter was ₹2,796 crore, largely driven by expansion projects in India.