Jindal Steel & Power has reported a profit after tax of Rs 996.7 crore in the third quarter of FY12, a growth of 6.6% as compared to Rs 935.4 crore in the corresponding quarter of last fiscal.
Revenues shot up 37% to Rs 4,354.5 crore from Rs 3,168.15 crore during the same period.
Results were broadly in line with street's expectations and were driven by higher sales volumes in power and pellet segments.
PAT was boasted by exceptional item (In Q2, company had provided for notional forex loss arising out of its outstanding ECB). JSPL earned exceptional gains of Rs 25.9 crore as against loss of Rs 74 crore in a year ago quarter.
As EBIT margins have contracted in both the steel and power segments but steel segment margins have improved on a quarter-on-quarter basis due to higher share of pellets.
Power segment was driven by higher volumes but margins contracted due to high coal prices on a year-on-year basis
EBITDA was up by 9% to Rs 1,739 crore from Rs 1,592.9 crore and EBITDA grew at 39.9% as against 50.3% year-on-year.
Consumption of raw materials doubled to Rs 1,567.5 crore versus Rs 693.7 crore. Power and fuel expenses went up 75.2% at Rs 327.97 crore from Rs 187.2 crore YoY.
Segmental revenue (YoY):
Revenues from iron and steel segment went up 46.9% to Rs 3,406.8 crore from Rs 2,318.8 crore.
Power segment's revenues rose 9% to Rs 1,155.2 crore from Rs 1,060.3 crore.
Segmental contribution (YoY):
>Iron and steel at 73% versus 68%
>Power at 25% versus 31%
EBIT Margins(YoY):
>Iron and Steel at 29% versus 32%
>Power at 62% versus 71%
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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