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%|
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.