Jindal Steel and Power consolidated net profit jumps over 10 times to Rs 2,516 crore
Jindal Steel and Power Ltd (JSPL) on Tuesday said its consolidated net profit jumped over 10 times to Rs 2,516 crore during the June 2021 quarter. The company’s net profit after tax from continuing operation had stood at Rs 236 crore a year ago.
Total income in April-June 2021 also rose to Rs 10,643.17 crore from Rs 6,519.27 crore in the year-ago period. Total expenses stood at Rs 7,233.55 crore, higher than Rs 6,147.90 crore a year ago.
During the June 2021 quarter, it produced 2.01 million tonnes (mt) steel, higher than the 1.67mt in the April-June quarter of 2020. Sales stood at 1.61mt compared with 1.56mt a year ago.
“Continued cash generation, declining finance cost, lower capex (capital expenditure) and debt associated with JPL (Jindal Power Ltd) moving out of JSPL’s consolidated books have all contributed to the continued deleveraging in 1QFY22,” it said.
Coal India Q1 profit falls 31%
Coal India’s first quarter profit declined sequentially even as the miner missed estimates with sales and other income falling. Net profit fell 31 per cent sequentially to Rs 3,169.8 crore in the quarter ended June, the world’s largest coal miner said in an exchange filing. Analysts had expected a profit of Rs 3,973-crore.
The company had posted a consolidated net profit of Rs 2,079.60 crore in the year-ago period. Consolidated revenue from operations were Rs 25,282.15 crore in reporting quarter.
Zomato loss widens
Online food delivery platform Zomato on Tuesday reported a widening of its net loss to Rs 360.7 crore for the quarter ended June 30, 2021, mainly on account of rise in expenses. The company had suffered a net loss of Rs 99.8 crore for the corresponding period of the previous fiscal.
Consolidated revenue from operations stood at Rs 844.4 crore against Rs 266 crore for the same period a year ago.