INSUBCONTINENT EXCLUSIVE:
KOLKATA: Jindal Stainless (JSL) Q1 PAT more than doubled to Rs 91 crore, driven by strong demand due to infrastructure spending, railway
modernisation and auto sector
Net revenue increased to Rs 3,147 crore, a growth of 56 per cent over previous corresponding period, the company said in a statement
Earnings before interest depreciation taxes and amortisation (EBIDTA) for the quarter surged by 50 per cent to Rs 375 crore over same
period last year when finance costs were extraordinarily lower on account of interest refund.
A buoyant market for stainless steel led to a
growth of 51 per cent in sales volume during the quarter under review over the same period last year
Melt production grew by 45 per cent in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise
conducive to propel volume growth
We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and
the basis of the improved financial performance in the last two financial years, he said
The consortium of lenders has already recommended CDR exit for company and the matter is pending for voting in CDR, Jindal added.
