Jindal Steel and Power’s First Quarter Loss Widens To Rs 1,082 Crore

Jindal Steel and Power Ltd.’s reported a loss of Rs 1,082 crore in the April to June quarter of financial year 2016-17. Losses widened from Rs 542.4 crore reported in the same quarter last year.

Net sales fell 3.3 percent to Rs 5,015 crore from Rs 5,187 crore on a year-on-year basis.

Earnings before interest, tax, depreciation and amortization decreased 2.5 percent to Rs 984.1 crore year on year. EBITDA margin for the first quarter of the financial year 2016-2017 contracted to 21.1 percent from 22.9 percent in the same quarter last year.

Its consolidated production rose 8 percent to 1.19 MT on a year-on-year basis, and it sold 1.11 MT as compared to 1.07 MT in the same period last year.