JSPL reports Q4 consolidated profit of Rs 306 crore, cuts net debt by Rs 4,379 crore in FY20
May 26, 2020
New Delhi [India], May 26 : Jindal Steel and Power Ltd (JSPL) has reported a consolidated profit after tax of Rs 306 crore during the January to March quarter and reduced its net debt by Rs 4,379 crore in FY20 on constant currency basis.
The gross revenue totalled Rs 9,674 crore in Q4 FY20 while the net revenue was Rs 8,836 crore, the company said in a statement. The earnings before interest, taxes, depreciation and amortisation (EBITDA) were Rs 2,220 crore and EBITDA margin stood at 25 per cent.
JSPL ramped up production and sales in the financial year ending March, reporting the ever highest steel production and sales volumes.
"The year gone by saw the company better not only on the volume front but also on the product mix which made it more resilient and nimble for the uncertainty and difficult times which wrapped the world during the latter part of the quarter," it said.
JSPL clocked steel production (including pig iron) of 1.54 million tonnes in Q4 FY20 while the sales totalled 1.4 million tonnes.
On the other hand, Jindal Power generated 2.4 billion units in Q4 due to improved availability of coal, marking an increase of 28 per cent from 1.9 billion units in Q3.
The improving availability of coal also led to a decline in overall costs and brought efficiency in the procurement process.
