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JINDAL STEEL & POWER Announces Quarterly Results (2QFY19); Net Profit Up 155.9%

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JINDAL STEEL & POWER Announces Quarterly Results (2QFY19); Net Profit Up 155.9%
Thu, 15 Nov

JINDAL STEEL & POWER has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

JINDAL STEEL & POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m61,23496,65499,8233.3%63.0%
Other incomeRs m14090.0%-34.1%
TurnoverRs m61,24896,65499,8323.3%63.0%
ExpensesRs m47,50073,88877,7495.2%63.7%
Gross profitRs m12,23722,76624,6288.2%101.3%
DepreciationRs m9,97710,39910,314-0.8%3.4%
InterestRs m9,2689,72910,85811.6%17.2%
Profit before taxRs m-6,9942,6373,46631.4%
TaxRs m-1,9991,538674-56.2%
Profit after taxRs m-4,9951,0992,792154.0%
Gross profit margin%20.023.624.7
Effective tax rate%28.658.319.4
Net profit margin%-8.21.12.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 63.0% on a year-on-year (YoY) basis. The expenses were up by 63.7% YoY during the same period.
  • The company's operating profit increased by 101.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.7% in 2QFY19 as against 20.0% in 2QFY18.
  • Depreciation charges increased by 3.4% and finance costs increased by 17.2% YoY, respectively.
  • Other income declined by 34.1% YoY during the quarter.
  • Net profit for the quarter increased by 155.9% YoY. Net profit margins during the quarter increased from -8.2% in 2QFY18 to 2.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.2% QoQ during the same period.
  • The company's operating profit increased by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.7% in 2QFY19 as against 23.6% in 1QFY18.
  • Net profit for the quarter increased by 154.0% QoQ, while net profit margins increased from 1.1% in 1QFY18 to 2.8% in 2QFY19.

To see how JINDAL STEEL & POWER has performed over the last eight quarters, please visit here.

JINDAL STEEL & POWER Share Price Performance

Over the last one year, JINDAL STEEL & POWER share price has moved up from Rs 161.5 to Rs 178.5, registering a Gain of Rs 17.0 or around 10.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,701.6 (up 0.1%). Over the last one year it has moved down from 13,839.8 to 12,701.6, a gain of 1,138 points (down 8.2%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 178.5, the price to earnings (P/E) ratio of JINDAL STEEL & POWER stands at 51.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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For the quarter ended December 2018, JINDAL STEEL & POWER has posted a net profit of Rs 872 m (down 124.0% YoY). Sales on the other hand came in at Rs 96 bn (up 36.8% YoY). Read on for a complete analysis of JINDAL STEEL & POWER's quarterly results.

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For the quarter ended June 2018, JINDAL STEEL & POWER has posted a net profit of Rs 1 bn (down 126.1% YoY). Sales on the other hand came in at Rs 97 bn (up 57.8% YoY). Read on for a complete analysis of JINDAL STEEL & POWER's quarterly results.

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