JINDAL STEEL & POWER Announces Quarterly Results (4QFY19); Net Profit Down 536.4%

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JINDAL STEEL & POWER Announces Quarterly Results (4QFY19); Net Profit Down 536.4%
Fri, 24 May

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

JINDAL STEEL & POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m85,98895,656101,5906.2%18.1%
Other incomeRs m51480-100.0%-100.0%
TurnoverRs m85,99395,804101,5906.0%18.1%
ExpensesRs m64,62374,88783,14211.0%28.7%
Gross profitRs m16,98920,7691,109-94.7%-93.5%
DepreciationRs m9,59910,35723,733129.2%147.2%
InterestRs m10,71410,42411,63111.6%8.6%
Profit before taxRs m-3,319136-34,255-25287.6%
TaxRs m9441,008-7,122-806.2%-854.3%
Profit after taxRs m-4,264-872-27,133
Gross profit margin%19.821.71.1
Effective tax rate%-28.4741.520.8
Net profit margin%-5.0-0.9-26.7
* 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 18.1% on a year-on-year (YoY) basis. The expenses were up by 28.7% YoY during the same period.
  • The company's operating profit declined by 93.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.1% in 4QFY19 as against 19.8% in 4QFY18.
  • Depreciation charges increased by 147.2% and finance costs increased by 8.6% YoY, respectively.
  • Other income declined by 100.0% YoY during the quarter.
  • Net profit for the quarter declined by 536.4% YoY. Net profit margins during the quarter declined from -5.0% in 4QFY18 to -26.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.0% QoQ during the same period.
  • The company's operating profit declined by 94.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.1% in 4QFY19 as against 21.7% in 3QFY18.
  • Net profit for the quarter declined by 3010.2% QoQ, while net profit margins declined from -0.9% in 3QFY18 to -26.7% in 4QFY19.

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 227.7 to Rs 156.5, registering a Loss of Rs 71.2 or around 31.3%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,498.9 (up 0.1%). Over the last one year it has moved down from 13,207.5 to 10,498.9, a gain of 2,709 points (down 20.5%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 156.5, the price to book value (P/BV) ratio of JINDAL STEEL & POWER stands at 0.5 times.

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