JSPL’s loss narrows down to Rs 455 crore in December quarter

JSPL’s loss narrows down to Rs 455 crore in December quarter

JSPL managed to cut down its consolidated net loss by almost half in Q3FY17 to Rs 455 crore, against a loss of Rs 882 crore in Q3FY16 on higher production and sales and improved price realisation in its steel business.

The company’s consolidated revenue went up 25% to Rs 5408 crore during the quarter. EBIDTA went up to Rs 1277 crore against Rs 542 crore in Q3FY16.

JSPL’s standalone net loss too narrowed to Rs 187 crore in Q3FY17 against a loss of Rs 519 crore in Q3FY16. Standalone revenues went up to Rs 3519 crore, up 21% over the previous corresponding quarter.EBIDTA went up to Rs 784 crore during Q3FY17 against Rs 419 crore in Q3FY16. the company gained from a higher momentum in steel and pellet sales during the quarter under review. Read More…

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