Jindal Steel and Power Q1FY21 results; consolidated net profit rises by 406.16 per cent YoY

Jindal Steel and Power Ltd., an Indian steel and energy company based in Hisar announced its quarterly results on July 22, 2020. The company posted a consolidated net profit of Rs 267.58 crore for Q1FY21, which increased by 406.16 per cent YoY, as compared to Q1FY20 when it reported loss of  Rs 87.4 crore.                                                                                                                                                 

The consolidated net sales reported in Q1FY21 came in at Rs 9,278.77 crore, which declined by 6.7 per cent YoY from Rs 9,945.56 crore in Q1FY20. At EBITDA level, the company stood at Rs 2,384 crore in Q1FY21 that increased by 9.71 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 2,173.04 crore.                                                                                                                                                           

EBITDA margin as of Q1FY21 was at 25.69 per cent that increased by 3.84 per cent YoY. The net profit margin in Q1FY21 came in at 2.88 per cent, which increased by 376 per cent YoY. The net profit margin in Q1FY20 was at -0.88 per cent.                                                                                                     

At around 3:07 pm, the stock is trading at Rs 173.5 which slipped by 2.91 per cent on BSE.