Jindal Steel & Power jumped 3.19% to Rs 969.30 after the company 's consolidated net profit stood at Rs 933 crore , steeply higher than Rs 466 crore posted in corresponding quarter last year.
Revenue from operations fell 1.5% to Rs 13,486.96 crore in Q4 FY24 as compared with Rs 13,691.93 crore in Q4 FY23.Profit before tax jumped 44.45%YoY to Rs 1,163.52 crore in Q4 FY24.
The companys EBITDA, adjusted for one-off FX loss of Rs 68 crore, for Q4 FY24 was Rs 2,512 crore (up 12.14% YoY). It was driven by reduction in raw material cost, partly offset by lower NSR during the quarter
The production and sale of steel stood at 2.05 million tonnes (MT) (up 1.49% YoY) and 2.01 MT (down 0.99% YoY), respectively.
Share of exports remained stable at 11% in Q4 FY24 as compared with Q4FY23.
During the quarter, the total capex was Rs 2,523 crore and net debt stood at Rs 11,203 crore.
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On full year basis, the companys consolidated net profit jumped 86.13% to Rs 5,943 crore despite 5.09% decline in revenue from operations to Rs 52,711.18 crore in FY24 over FY23.
Meanwhile, the companys board has declared a final dividend of Rs 2 per equity share for FY24.
Jindal Steel & Power is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.
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