JSW Ispat reports 4QFY2013 results - Angel Broking

JSW Ispat, which is expected to be merged with JSW Steel during CY2013, reported its 4QFY2013 results. Its net sales declined by 3.6% yoy to Rs. 2,621cr. The EBITDA also decreased by 2.5% yoy to Rs. 190cr mainly due to lower steel prices and higher power costs. However, the company's interest cost declined by 13.4% yoy to Rs. 232cr and therefore this coupled with deferred tax credit benefits helped the company to post a positive PAT of Rs. 94cr in 4QFY2013 compared to a loss of Rs. 141cr in 4QFY2012.

We maintain our Neutral view on the JSW Steel.

Source : Equity Bulls

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