Jin­dal Stain­less re­ports `27cr net profit in Q2

Financial Chronicle - - COMPANIES -

MARK­ING a turn­around in its op­er­a­tions, Jin­dal Stain­less (JSL), a part of the Rat­tan Jin­dal man­aged Jin­dal Stain­less Group, on Tues­day recorded a net profit of Rs 27 crore for the July-Septem­ber quar­ter on the back of higher sales and re­cov­ery in me­tal prices.

The com­pany had re­ported a net loss of Rs 65 crore in sec­ond quar­ter of FY17, but has ar­rested a fall there­after, re­port­ing a profit in all the four sub­se­quent quar­ters.

Apart from JSL, JIn­dal Stain­less (Hisar) (JSHL) is the other group com­pany to wit­ness a turn­around and re­port prof­its for the last four quar­ters.

For the sec­ond quar­ter of this fi­nan­cial year, JSL posted a 36 per cent growth (YoY) in rev­enue to Rs 2,608 crore while also re­port­ing a 10 per cent in­crease in Ebitda to Rs 256 crore. The ro­bust growth in JSL’s fi­nan­cial re­sults was backed by a 20 per cent jump in sales vol­ume.

The com­pany sold 202,447 tonnes of stain­less steel in Q2 FY18 against 168,548 tonnes in the year­ago pe­riod. Ex­ports con­sti­tuted about 25 per cent of the to­tal sales.

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