JSPL reports lower earnings despite higher production, sales

  • Wednesday, May 27, 2020
  • Source:ferro-alloys.com

  • Keywords:JSPL, lower earnings, higher production, sales
[Fellow]Earnings before interest, taxes, depreciation and amortization (Ebitda) 57.77 billion rupees ($764.79 million), down 4% year on year.
[Ferro-Alloys.com]  A summary of the financial results for Indian steel producer Jindal Steel & Power Ltd (JSPL) for the fourth quarter and full year of its 2019-2020 financial year ending March 2020.
 
Higher production and sales for the full year, but earnings fell.
 
“Tremendous volatility” in steel prices in India throughout the year.
 
By building its raw materials inventories it has been able to continue production through the Covid-19 lockdown. 
 
Steel (including pig iron) production  6.30 million tonnes, up 13% year on year from 5.59 million tonnes. Steel (inc pig iron) sales 6.06 million tonnes, up 12% year on year from 5.41 million tonnes. Earnings before interest, taxes, depreciation and amortization (Ebitda) 57.77 billion rupees ($764.79 million), down 4% year on year.
 
Source: Metalbulletin
 
  • [Editor:kangmingfei]

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