Jindal Stainless (Hisar) Limited has reported a consolidated net profit of INR 80 crore for the quarter, a 11% decline from INR 94 crore yoy due to a steep surge in import of stainless steel in the market in the year 2019. However, company’s standalone net profit stood at INR 60 crore in Q3FY20 as compared to INR 55 crore in the corresponding period last yea, registering an increase of 10%. JSHL’s net revenue for the quarter under review came down by 2% at INR 2,191 crore. The Company reported an EBITDA of INR 210 crore. JSHL Managing DirectorMr Abhyuday Jindal said “As the industry continues to face the deluge of imports, margins still remain under pressure. Going ahead, we will enhance our overseas market footprint as we are exploring opportunities to expand customer base in new geographies along with development of a few new grades.”
The company’s sales volume was recorded at 156,293 tonnes in this quarter and specialty products division that manufactures precision strips and coin blanks saw growth of 6% in sales volume during Q3 FY20.
Source: STEELGURU
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