JSPL reports net loss of Rs 219 cr in Q3 of current fiscal

ANI
19 Jan 2020, 02:03 GMT+10

New Delhi [India], Jan 18 (ANI): Jindal Steel and Power Limited (JSPL) on Saturday said to have posted a consolidated net loss of Rs 219 crore for the third quarter of the current financial year as compared to Rs 87 crore in the last corresponding period.

According to a press release, the consolidated turnover of JSPL also declined to Rs 9,300 crore this quarter from Rs 9,566 crore in the corresponding quarter of the previous fiscal.

However, JSPL reported the 'highest ever sales volumes' in the October-December quarter this financial year.

The earnings before interest, tax, depreciation, and amortization (EBITDA) were pegged at Rs 1,820 crore, down from Rs 2,077 crore in the year-ago period.

"JSPL, on a consolidated level, produced 2.11 million tonnes of steel and related products (up 19 per cent from 1.77 million tonnes in 3QFY19) and sold 2.24 million tonnes of steel and related products (up 30 per cent from 1.73 million tonnes in 3QFY19)," said the release.

Net debt for the quarter ending December 2019 was reported at Rs 35,457 crore. This marks a reduction of Rs 1,150 crore quarter on quarter.

"JSPL standalone reported a rise in production of 22 per cent YoY for steel and related products to 1.61 million tonnes (1.32 million tonnes) in 3QFY2019) and sales during 3QFY2019 of 1.67 million tonnes (up 31 per cent YoY)," said the release.

"The crude steel production in standalone also rose to 1.53 million tonnes (up 25 per cent YoY) while sales were at 1.61 million tonnes (up 34 per cent YoY)," it added. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New Jersey Telegraph.

More Information