Jindal Steel And Power Limited (JSPL) has reported a standalone profit of Rs 383 crores in the July-September quarter of FY19, because of an exceptional gain of Rs. 255.46 crores secured by the company. JSPL has reported a net loss of Rs 255 crores in Q2FY18.
The company in its regulatory filing stated that exceptional items for the said period include an early redemption price saving on payment of 17,500 privately placed debentures of Rs. 472.50 crores.
JSPL reported the total standalone revenues for the quarter at Rs 6,849 crores, which went up by 87% YoY. JSPL EBITDA also increased by 85% to Rs 1,452 crore as compared to the previous corresponding period.
On a consolidated basis, JSPL total income surged 63% to Rs 9,982 crores in Q2FY19 whereas EBITDA jumped 61% to Rs 2,207 crores. JSPL also announced that, with production at its Angul unit ramping up, standalone steel production rose 46% to 1.30 million tonnes whereas standalone steel sales during 2QFY19 increased to 1.28 million tonnes (up 53% YoY).
