Jindal Steel & Power recorded a consolidated net profit of Rs 933 crore for the fourth quarter of FY24, representing a 100% increase over the previous year, as the firm benefited from a strong domestic demand environment.
JSPL reported a consolidated net profit of Rs 466 crore in Q4 FY23.
The consolidated gross revenue of the Naveen Jindal-led business remained steady in the January-March quarter, at Rs 15,749 crore. On a sequential basis, sales increased 15% but profit plummeted 52% from Rs 1,928 crore recorded in Q3FY24.
On a standalone basis, overall income from operations increased by 4% to Rs 13,773.4 crore from Rs 13,192.3 crore. Net profit increased 62 percent to Rs 1281.53 crore.
Adjusted EBITDA was Rs 2,512 crore, adjusted for a one-time FX loss of Rs 68 crore during the quarter. EBITDA was driven by decreased raw material costs, which were somewhat offset by lower NSR (Net sales realisation) during the quarter, according to a company statement.
As of March 31, 2024, JSPL's consolidated net debt was Rs 11,203 crore, compared to Rs 9,115 crore on December 31, 2023. Increased debt. Represents increased payments as a result of the completion of many projects in accordance with the capex schedule, the business stated.
The business spent Rs 2,523 crore on capital during the quarter, and Rs 8,517 crore in FY24. In FY24, consolidated output totaled 7.92 metric tons.
