JSPL: Profitability Beat, Deleveraging Continues In Q3: IDBI Capital
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IDBI Capital Report
Jindal Steel and Power Ltd. Q3 FY21 result was a strong beat. It reported highest ever consolidated Ebitda of Rs 42.5 billion (up 170% YoY) mainly driven by higher realisations and operating efficiencies.
Reported net profit stood at Rs 24 billion compared to net loss of Rs 2.5 billion in Q3 FY20. Even Jindal Power Ltd. continued to improve financial performance as its Ebitda grew 18% YoY to Rs 3 billion.
The company’s consolidated net debt fell by Rs 33 billion QoQ to Rs 256 billion as of December 31, 2020.
Its Oman plant divestment is likely to be completed by March 2021.
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