Quarterly Result: Jindal Steel & Power Ltd
Bhagyashree Vivarekar / 09 Dec 2016
Jindal Steel & Power Ltd., is currently trading at Rs. 73.95, up by 0.85 points or 1.16% from its earlier closing of Rs. 73.1 on the BSE. The company's net loss for the quarter stands at Rs 745.98 cr against Rs 909.53 cr.
Technical View:
Jindal Steel & Power Ltd., is currently trading at Rs. 73.95, up by 0.85 points or 1.16% from its earlier closing of Rs. 73.1 on the BSE.
The scrip has touched a high and low of Rs. 75.55 and Rs. 71.25 respectively, after opening at 72.4. Altogether 10311001(NSE+BSE) shares have been traded on the counter so far; and the stock is currently trading below its 100 DMA.
Consolidated Results Q2FY17:
Jindal Steel & Power Ltd.’s consolidated Q2FY17 results have come in as a mixed bag in comparison with Bloomberg estimates. Revenue has come in 5.1% lesser than the estimate of Rs 4914 cr. However, EBITDA has come in 670.6% greater than the estimate of Rs 110 cr. Reported net loss for the period stands at Rs 746 cr against estimated net loss of Rs 449 cr.
The quarter's revenue has depleted marginally by 1.5% yoy to Rs 4665.54 cr.
Jindal Steel's EBITDA has eroded 15.4% yoy to Rs 848.39 cr and EBITDA margins have depleted by 298 bps, triggered by 18% yoy upsurge in other expenditure.
The company's net loss for the quarter stands at Rs 745.98 cr against Rs 909.53 cr net loss in Q2FY16. This can be attributed to 14% yoy surge in finance cost.
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