Jindal Steel and Power (JSPL) witnessed a turnaround in the fourth quarter and came back to profit on a standalone basis after 13 quarters.
The reported a net profit of Rs 145 crore in Q4FY18 against a loss of Rs 74 crore last quarter and a loss of Rs 116 crore in the same quarter last year.However, on a consolidated basis, net loss of the company widened by fourfold to Rs 426 crore for the quarter under review.
It had posted a net loss of Rs 98 crore in the corresponding quarter last year.Consolidated EBITDA jumped 38 per cent year-on-year to Rs 2,136 core in Q4FY18 over Rs 1552 crore in the same period last year.Consolidated turnover climbed 27 per cent on YoY basis to Rs 8,599 crore in Q4FY18.As of year ended March 31, 2018, JSPL consolidated net debt stood at Rs 42,000 crore levels.The company, however, achieved its highest ever-annual revenue of Rs 27,841 crore, which is 23 per cent higher than previous year.
The aggregate EBITDA rose by 37 per cent compared to previous year FY17.
The overall EBITDA for FY18 stood at 23 per cent vs.
21 per cent for FY17, supported by better operating profits across all its Steel Power business globally.