JVSL Q1 net rockets 139% to Rs 55 cr

BS 200 SCORECARD

Jindal Vijayanagar Steel's (JVSL) net profit has zoomed 139.4 per cent at Rs 54.89 crore for the first quarter ended June 30, 2004, against Rs 22.92 crore in the corresponding quarter of the previous year. Net sales for the quarter increased 44.3 per cent to Rs 1007.17 crore (Rs 697.96 crore).

The company registered production and sales volume of 3.55 lakh tonne and 3.58 lakh tonne, respectively. The pellet plant also produced 7.5 lakh tonne during the quarter.

The earnings before interest depreciation and tax for the quarter stood at Rs 291.35 crore (Rs 226.97 crore).

During the quarter, the company reduced its debt by Rs 131 crore. Interest costs come down by 8.65 per cent at Rs 110.35 crore (Rs 120.8 crore).