Jindal Steel and Power Ltd has reported a consolidated net profit of Rs 268 crore in the first quarter of the financial year 2021, as against a net loss of Rs 87 crore during the same quarter previous year, due to increased volumes and lower raw material prices

The company grew at 5.02% QoQ in terms of revenue but has its Net Profit trimmed by -12.45%, which is not huge considering the global slowdown due to COVID  

Q1 FY21(Rs. Cr)Q4 FY20(Rs. Cr)Q1 FY20(Rs. Cr)QoQ%YoY%
Revenue9,279 8,835.2 9,945.585.02%-6.7%
Net Profit268.00 305.6-87.4-12.45%-12.1%

The company managed to reduce its operating cost and managed to obtain Raw materials for cheap. The operating expense has also been decreasing over the past 1 year.

Decreasing Operating Expenses

 On the day of the result, the market moved sideways due to split opinion and sentiment regarding the stock. Which was later followed by a 3.2% decline at the close which could have been because of reduced profit as compared to last quarter. There is a certain optimism in the market looking at the fundamentals, reducing operating expense and profit.

You can check out the Official Q1FY21 result by clicking here.

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