Jindal Steel & Power Ltd on Friday reported an 14.37% year-on-year fall in its consolidated net profit of continuing operation attributable (to owners of the company) for the fiscal's first quarter ended June (Q1FY24) to ₹1,686.94 crore. The company had reported a profit of ₹1,970.13 crore in the year-ago period. Sequentially, consolidated net profit was up 265% from ₹462.56 crore in Q4FY23. Jindal Steel & Power share price today closed 3.38% higher at ₹698.40 apiece on BSE.
The company's consolidated revenue from operations dropped 3.5% on year to ₹12,588.34 crores during the quarter ended June from ₹13,045.41 crore in Q1FY23. Total income dropped to ₹12,643.63 crore in the first quarter. It stood at ₹13,069.17 crore in the year-ago period.
As per company's exchange filing, the consolidated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter ended June, stood at ₹2,704 crore, sequentially was up 21%, on a year-on-year basis, it slumped 17%.
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