Indian steelmaker Jindal Steel and Power Ltd (JSPL) has issued its consolidated financial results for the first quarter ended June 30 of the financial year 2018-19.
In the three months in question, JSPL registered a net profit of INR 1.10 billion ($15.96 million) compared to a net loss of INR 4.21 billion in the same period of the previous financial year. JSPL’s turnover increased by 71 percent to INR 96.65 billion ($1.4 billion), while its EBITDA rose by 68 percent to INR 22.77 billion ($330.48 million), both compared to the same period of the previous year.
The company’s crude steel production in the first quarter amounted to 1.65 million mt, up 31 percent, while its steel sales increased by 40 percent to 1.61 million mt, both on year-on-year basis.