JSPL posts narrowed losses in Q1CY16
Bhagyashree Vivarekar / 05 May 2016
The Jindal Group’s steel and power arm Jindal Steel and Power (JSPL) has posted its Q1CY16 results on Wednesday. The company has posted a tapered but sixth consecutive net loss.
The Jindal Group’s steel and power arm Jindal Steel and Power (JSPL) has posted its Q1CY16 results on Wednesday. The company has posted a tapered but sixth consecutive net loss.
Company’s consolidated total income from operations has increased by 11.7 per cent at Rs 4874.09 crore from Rs 4361.92 crore in the last quarter. EBITDA also has come in at Rs 896.48 crore as against Rs 586.4 crore, an increase of 52.9 per cent. However, Company has witnessed a net loss of Rs. 371.34 crore but against a bigger loss of Rs 573.48 crore in Q4CY15.
Year on Year results show that company’s total income from operations have risen by 7.7 per cent from Rs 4525.59 crore. EBITDA too has remained positive by 13.5 per cent from Rs 789.61 crore in the same quarter last year. Net loss too has narrowed down from Rs 519.3 crore.
Recently, JSW Energy has cut a deal with JSPL to acquire 1000 MW thermal power plant for Rs 4000 crore from JSPL. However, there would be no financial impact with immediate effect on the two parties.
The stock closed with 3.5 per cent loss at Rs 66.50.
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