JSPL - Q2 FY13 Results First Cut - Microsec

JSPL announced its Q2FY13 results on 8th November, 2012.

The company arrived at consolidated net sales of INR4606.93 crore, which was up by 4.55% on YoY basis, but down by 1.57% on QoQ basis. The EBITDA for the quarter was INR1696.43 crore, which was down marginally by 0.43% on YoY basis, but up by 6.48% on QoQ basis. The EBITDA Margin fell by 208bps on YoY basis, but moved up by 255bps on QoQ basis. The company posted a consolidated net profit of INR897.28 crore, which was up by 2.44% on YoY and by 132.86% on QoQ basis. This was due to an exceptional item of INR574.12 crore in Q1FY13 and INR74.17 crore in Q2FY12. The net profit excluding exceptional item was down by almost 6% on YoY and QoQ basis. The company had terminated the EI Mutan Joint Venture contract with government of Bolivia for which the company had made a provision of INR574.12 crore in Q1FY13.

Production of Sponge iron de-grew by 7% on YoY basis and 16% on QoQ basis at 0.03MT. Production of Pig iron grew by 9% on YoY basis, but fell by 7% on QOQ basis at 0.05MT. Production of Pellets grew by 15% on YoY basis and 2.5% on QoQ basis at 1.03MT. Production of steel products grew by 10% on YoY basis, but fell by 9% on QoQ basis at 0.07MT. Power production moved up significantly by 54% on YoY basis, dropped by 4% on QoQ basis at 1457 mn KWh.

Source : Equity Bulls

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