Rs 98 crore net profit for JSL
Jindal Stainless Limited (JSL) in October announced ...
Jindal Stainless Limited (JSL) in October announced its financial results for the quarter ended September 30, 2020. The company posted an 88 per cent growth in net profit at Rs 98 crore in Q2FY21, as compared to the corresponding period of last year.
EBITDA at Rs 352 crore witnessed a rise of 11 per cent over the corresponding period of last year (CPLY), while the net revenue stood at Rs 3,156 crore in Q2FY21. With focus on deleveraging, finance cost fell by 13 per cent over the CPLY to Rs 124 crore in Q2FY21. Exceptional gains for the quarter stood at Rs 25 crore on account of favourable forex movement. Backed by a gradual recovery in domestic demand throughout the second quarter, JSL’s sales volume recovered to pre-Covid levels. Compared to the preceding quarter, sales volume witnessed a surge of 159 per cent at 230,350 tonnes in Q2FY21.