JINDAL STEEL & POWER Announces Quarterly Results (3QFY20); Net Profit Down 150.5%

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JINDAL STEEL & POWER Announces Quarterly Results (3QFY20); Net Profit Down 150.5%
Mon, 20 Jan

JINDAL STEEL & POWER has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

JINDAL STEEL & POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m95,65689,39592,9984.0%-2.8%
Other incomeRs m14880-95.2%-99.7%
TurnoverRs m95,80489,40392,9984.0%-2.9%
ExpensesRs m74,88772,98074,8032.5%-0.1%
Gross profitRs m20,76916,41518,19510.8%-12.4%
DepreciationRs m10,35710,39010,179-2.0%-1.7%
InterestRs m10,42410,30110,024-2.7%-3.8%
Profit before taxRs m136-4,266-2,008-1576.5%
TaxRs m1,008-273178-82.4%
Profit after taxRs m-872-3,993-2,186
Gross profit margin%21.718.419.6
Effective tax rate%741.56.4-8.8
Net profit margin%-0.9-4.5-2.4
* 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 fell 2.8% on a year-on-year (YoY) basis. The expenses were down by 0.1% YoY during the same period.
  • The company's operating profit declined by 12.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.6% in 3QFY20 as against 21.7% in 3QFY19.
  • Depreciation charges declined by 1.7% and finance costs declined by 3.8% YoY, respectively.
  • Other income declined by 99.7% YoY during the quarter.
  • Net profit for the quarter declined by 150.5% YoY. Net profit margins during the quarter declined from -0.9% in 3QFY19 to -2.4% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.5% QoQ during the same period.
  • The company's operating profit increased by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.6% in 3QFY20 as against 18.4% in 2QFY19.
  • Net profit for the quarter increased by 45.3% QoQ, while net profit margins increased from -4.5% in 2QFY19 to -2.4% in 3QFY20.

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

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JINDAL STEEL & POWER Share Price Performance

Over the last one year,JINDAL STEEL & POWER share price has moved up from Rs 145.7 to Rs 176.7, registering a Gain of Rs 31.0 or around 21.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,564.6 (down 0.5%). Over the last one year it has moved down from 11,080.3 to 10,564.6, a gain of 516 points (down 4.7%).

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 176.7, the price to book value (P/BV) ratio of JINDAL STEEL & POWER stands at 0.5 times.

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