Jindal Drilling stock price zooms 18% after mixed June quarter performance

Jindal Drilling shares rise: Shares of Jindal Drilling, a drilling oil and gas wells company, rallied as much as 17.51 per cent to hit an intraday high of Rs 706 per share. 

The uptick in share price came after the company reported a mixed set of June quarter of financial year 2024 (Q1FY25) results. 

The company’s profit jumped 263.4 per cent to Rs 43.9 crore in the June quarter of financial year 2025 (Q1FY25) as opposed to Rs 12.1 crore in the same quarter last year (Q1FY24).

Jindal Drilling revenue from operations rose 82 per cent on a year-on-year (Y-o-Y) basis to Rs 171 crore in the June quarter of FY25, from Rs 94 crore in the June quarter of FY24. 

 

However, on the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda), also known as operating profit, slipped 7.2 per cent on a Y-o-Y basis to Rs 38.5 crore in the June quarter of financial year 2025, from Rs 41.5 crore in the June quarter of financial year 2024. 

Consequently, Ebitda margin, or operating profit margin, fell sharply to 22.5 per cent in Q1FY25, from 44.2 per cent in Q1FY24.

In a separate filing, the company said that it has fixed Wednesday, August 14, 2024 as the 'Record Date’ for the purpose of determining the members eligible to receive dividend, if approved by the shareholders, for the financial year 2023-24. 

On May 21, the company had recommended a dividend of Rs 0.50 per equity share of face value of Rs 5 each, for the financial year 2023-24.

Jindal Drilling & Industries Limited, established in 1983 and promoted by the D P Jindal Group, specialises in manufacturing seamless casing pipes and offshore oil well drilling. 

The company offers services to organisations involved in oil and gas exploration, including drilling operations on leased jack-up rigs for ONGC and mud-logging services. 

Additionally, Jindal Drilling re-threads casing pipes for ONGC and OIL on a job-work basis. 

The company also engages in the trade of steel pipes and performs heat-treating, cold processing, threading, and finishing of seamless pipes.

The market capitalisation of Jindal Drilling is Rs 1,994.48 crore, according to Bombay Stock Exchange (BSE). The company falls under the SmallCap category.

The 52-week high of Jindal Drilling stock is Rs 913.50 per share while its 52-week low is Rs 376.80 per share. 

At 2:15 PM, Jindal Drilling shares were trading 13.40 per cent higher at Rs 681.25 per share. In comparison, BSE Sensex was trading 0.37 per cent at 81,656.45 levels.