Jindal Steel & Power Ltd. (JSPL) has announced its Quarter 3 Results for FY 22, and there were surprises as the year has been a moderately unsuccessful one for this company. Despite being one of the biggest players in the private sector steel manufacturing industry, this company missed its estimated values for the quarter.
For more details regarding this story, check out the following sections!
Key Highlights of JSPLQ3 Results
Jindal Steel & Power Ltd. reported net profits for the December quarter of FY 22. Consolidated profit for this quarter stood at Rs. 1,621.6 crores, which is down by 33.5% year on year. For the quarter last year, this company had seen a net profit of Rs. 2,440 crores. Moreover, experts and analysts had predicted net profits of Rs. 1,900 crores. JSPL had failed to reach these estimates.
Revenue From Operations
Revenue from operations for Jindal Steel & Power Ltd. for Q3 FY 22 stands at Rs. 12,525 crores, up by 35% from the values of the same quarter from the last fiscal year. In the third quarter of the last financial year, revenue from operations stood at Rs. 9,280.5 crores.
EBITDA for JSPL was Rs. 3,310.2 crores for the quarter ended December 2021. Interestingly, it has increased by 15.6 % from the EBITDA value for the same quarter of the previous fiscal year. EBITDA for the year-ago quarter was Rs. 3,293 crores. The EBITDA margin was fixed at 26.4% in Quarter 3 of December 2021. For the same quarter of FY 21, it was 42.3%.
Jindal Steel & Power Ltd. is one of the leading private sector steel manufacturers of this country. For this company, there was an improvement in domestic demand. However, overall muted demand due to COVID-19, lack of railway rakes and unseasonal rains are responsible for some of the company’s poor show.
Having said that, the future seems to look bright for this company as the government has made a strong push on infrastructure.
Frequently Asked Questions
When was Jindal Steel & Power Ltd. founded?
Ans. Jindal Steel and Power Ltd. was founded in 1979.
What is EBITDA?
Ans. EBITDA stands for Earnings Before Interest, Tax, Depreciation and Amortisation.
What was the stock price on Wednesday, 9 February 2022 for JSPL?
Ans. The stock price of JSPL reached Rs. 414.80 on the BSE on Wednesday, 9 February 2022. It is down by 8.5%. The market cap reached Rs. 42.23 T crores on the same day.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.