Jindal Saw extends fall post Q3 results

The stock dipped 8% to Rs 154, extending its Wednesday's 4% decline on BSE

Jindal Saw dipped 8% to Rs 154, extending Wednesday’s 4% decline on BSE after the company reported 19% growth in net profit at Rs 963 million for the quarter ended December 2017 (Q3FY18).  It had profit of Rs 807 million in the same quarter last fiscal.

Total income increased 49% to Rs 21,807 million from Rs 14,666 million in the corresponding quarter of previous year.

EBITDA (earnings before interest, tax, depreciation and amortization) margin declined to 14.45% from 18.75% in Q3FY17 and 19.68% in Q2FY18.

“As the Company is not producing steel rather commodities like steel, iron