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- JINDAL STEEL & POWER Announces Quarterly Results (3QFY19); Net Profit Down 124.0%
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 Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 69,926 | 99,823 | 95,656 | -4.2% | 36.8% |
| Other income | Rs m | 10 | 9 | 148 | 1523.1% | 1320.2% |
| Turnover | Rs m | 69,936 | 99,832 | 95,804 | -4.0% | 37.0% |
| Expenses | Rs m | 53,861 | 77,749 | 74,887 | -3.7% | 39.0% |
| Gross profit | Rs m | 22,476 | 24,628 | 20,769 | -15.7% | -7.6% |
| Depreciation | Rs m | 9,632 | 10,314 | 10,357 | 0.4% | 7.5% |
| Interest | Rs m | 9,670 | 10,858 | 10,424 | -4.0% | 7.8% |
| Profit before tax | Rs m | 3,184 | 3,466 | 136 | -96.1% | -95.7% |
| Tax | Rs m | -457 | 674 | 1,008 | 49.6% | |
| Profit after tax | Rs m | 3,641 | 2,792 | -872 | -131.2% | -124.0% |
| Gross profit margin | % | 32.1 | 24.7 | 21.7 | ||
| Effective tax rate | % | -14.3 | 19.4 | 741.5 | ||
| Net profit margin | % | 5.2 | 2.8 | -0.9 |
Interim results exclude extraordinary / exceptional items
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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