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JINDAL STEEL & POWER Announces Quarterly Results (3QFY19); Net Profit Down 124.0%

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JINDAL STEEL & POWER Announces Quarterly Results (3QFY19); Net Profit Down 124.0%
Mon, 4 Feb

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

JINDAL STEEL & POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m69,92699,82395,656-4.2%36.8%
Other incomeRs m1091481523.1%1320.2%
TurnoverRs m69,93699,83295,804-4.0%37.0%
ExpensesRs m53,86177,74974,887-3.7%39.0%
Gross profitRs m22,47624,62820,769-15.7%-7.6%
DepreciationRs m9,63210,31410,3570.4%7.5%
InterestRs m9,67010,85810,424-4.0%7.8%
Profit before taxRs m3,1843,466136-96.1%-95.7%
TaxRs m-4576741,00849.6%
Profit after taxRs m3,6412,792-872-131.2%-124.0%
Gross profit margin%32.124.721.7
Effective tax rate%-14.319.4741.5
Net profit margin%5.22.8-0.9
* 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 36.8% on a year-on-year (YoY) basis. The expenses were up by 39.0% YoY during the same period.
  • The company's operating profit declined by 7.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.7% in 3QFY19 as against 32.1% in 3QFY18.
  • Depreciation charges increased by 7.5% and finance costs increased by 7.8% YoY, respectively.
  • Other income increased by 1320.2% YoY during the quarter.
  • Net profit for the quarter declined by 124.0% YoY. Net profit margins during the quarter declined from 5.2% in 3QFY18 to -0.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.7% QoQ during the same period.
  • The company's operating profit declined by 15.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.7% in 3QFY19 as against 24.7% in 2QFY18.
  • Net profit for the quarter declined by 131.2% QoQ, while net profit margins declined from 2.8% in 2QFY18 to -0.9% in 3QFY19.

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 250.2 to Rs 129.2, registering a Loss of Rs 121.1 or around 48.4%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,343.7 (down 1.9%). Over the last one year it has moved down from 15,011.8 to 10,343.7, a gain of 4,668 points (down 31.1%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 129.2, the price to book value (P/BV) ratio of JINDAL STEEL & POWER stands at 0.4 times.

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For the quarter ended September 2018, JINDAL STEEL & POWER has posted a net profit of Rs 3 bn (up 155.9% YoY). Sales on the other hand came in at Rs 100 bn (up 63.0% YoY). Read on for a complete analysis of JINDAL STEEL & POWER's quarterly results.

JINDAL STEEL & POWER Announces Quarterly Results (1QFY19); Net Profit Down 126.1% (Quarterly Result Update)

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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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