JSPL reports a 45% drop in net profit in Q3FY20

KOLKATA: Jindal Steel and Power Ltd (JSPL) reported a 45% drop in standalone net profit in Q3FY20 to Rs 97 crore against a net of Rs 177 crore in the previous corresponding quarter. The company's standalone turnover touched Rs 6,640 crore in the quarter under review, showing a marginal drop of 1.35% over Rs 6,631 crore in the previous corresponding quarter.

On a consolidated basis, JSPL reported a net loss of Rs 219 crore in Q3FY20 against a net loss of Rs 87 crore in the same period last year. Consolidated turnover went down to Rs 9,300 crore during the quarter against a turnover of Rs 9,566 crore in the previous corresponding quarter.

In Q3FY20 JSPL's standalone EBITDA was at Rs 1,352 crore while on a consolidated basis JSPL reported an EBITDA of Rs 1,820 crore. In Q3FY20, standalone steel and steel-related product sales up 31% YoY.