JSPL Q1FY22 consolidated PAT plunges to Rs. 14.25 crore

Jindal Steel & Power Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.10643.17 crores during the period ended June 30, 2021 as compared to Rs.10614.52 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.14.25 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.2139.28 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.0.40 for the period ended June 30, 2021 as compared to Rs.19.30 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 10643.17 crs	₹ 10614.52 crs	0.27%
Net Profit	₹ 14.25 crs	₹ 2139.28 crs	-99.33%
EPS	₹ 0.40	₹ 19.30	-97.93%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.10643.17 crores during the period ended June 30, 2021 as compared to Rs.6519.27 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.14.25 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.267.58 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.0.40 for the period ended June 30, 2021 as compared to Rs.1.79 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 10643.17 crs	₹ 6519.27 crs	63.26%
Net Profit	₹ 14.25 crs	₹ 267.58 crs	-94.67%
EPS	₹ 0.40	₹ 1.79	-77.65%

Continued cash generation, declining finance cost, lower capex and debt associated with JPL moving out of JSPL’s consolidated books have all contributed to continued deleveraging in 1QFY22. Consolidated net debt has declined further to INR 15,227 Cr in 1QFY22 (from INR 22,146 Cr in March 2021). Conclusion of JPL divestment (now accounted as asset held for sale) will result in Net Debt declining further, taking JSPL a step closer to its vision of becoming a Net Debt free company - a rare feat in the Steel sector. Additionally the divestment would meaningfully enhance JSPL on ESG metrics, by reducing its carbon footprint by more than half (at full utilization).

Shares of Jindal Steel & Power Ltd was last trading in BSE at Rs. 418.05 as compared to the previous close of Rs. 421.85. The total number of shares traded during the day was 509244 in over 6740 trades.

The stock hit an intraday high of Rs. 428.9 and intraday low of 414.4. The net turnover during the day was Rs. 215047227.

Source : Equity Bulls

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