JSPL Q2 net profit up 2.5% to Rs 897 cr

Jindal Steel and Power 's (JSPL) consolidated net profit increased 2.5 percent - in-line with forecast - to Rs 897 crore in the second quarter of current financial year from Rs Rs 875 crore in a year ago period.

Consolidated net sales rose lower than expected 4.5 percent year-on-year to Rs 4,606 crore during the quarter.

Analysts on an average were expecting net profit of Rs 898 crore on revenues of Rs 4,975 crore for the quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) declined marginally to Rs 1,642.7 crore from Rs 1,687.2 crore in the quarter that too came in lower than expectations of Rs 1,725 crore.

EBITDA margin went down by 270 basis points YoY to 35.6 percent.

The stock was trading flat at Rs 383.90.

Source: www.moneycontrol.com

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