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High demand from Auto sector helps Jindal Stainless profit grow 6-fold to Rs 318 crore-2018 China(Guangzh
ou)Int’l Metal &Metallurgy Exhibition-metal exhibition
4/27/2018 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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Economic Times reported that Jindal Stainless Limited (JSL) has reported a six-fold jump in net profit at INR 318 crore in FY18 as against INR 58 crore in FY17, on top of a 30% revenue growth during the year led by increase in stainless steel demand and improved operational performance. Total revenue in FY18 went up to at INR 10,785 crore as against INR 8,311 crore in corresponding period last year. Total consolidated sales volume in FY18 touched 778,933 MT, recording a growth of 21% as against 641,333 MT in corresponding period last year
EBIDTA was up by 16% at INR 1,281 crore in FY18. Improved operational efficiency in FY18 led to an increase in total stainless steel melt production which stood at 797,156 MT and was up by 10% compared to corresponding period last year.
JSL managing director,Abhyuday Jindal said: “The company has delivered a strong result in FY18 for the second consecutive year. It reinforces that JSL has set itself on a strong and sustainable growth journey."
JSL’s efforts on increasing stainless steel demand through various market driven initiatives resulted in higher sales volume at 220,152 MT in Q4 FY18, registering a y-o-y increase of 45%. In Q4 FY18 JSL saw an improvement of 24% in EBIDTA as compared to corresponding period last year. Total net revenue in Q4 FY1 8 stood at Rs 3,173 crore with a 38% growth over Q4FY17. JSL’s operational performance remained steady with capacity utilisation in Q4 FY18 touching 95%.
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