Jisco Net Jumps 127% In Q1

Mumbai, July 27 | Updated: Jul 28 2004, 05:47am hrs
Jindal Iron and Steel (Jisco) has posted sales growth of 30 per cent to Rs 609 crore and net profit rose 127 per cent to Rs 46 crore compared to first quarter of 2003-04.

The companys production rose 23 per cent to 1,61,601 tonne of GP/GC in the period under review. Exports were 71 per cent of sales, contributing Rs 433.31 crore.

The companys Q1 earning before interest, depreciation and tax (EBIDTA) is at Rs 108.37 crore (Q1 2003-04 Rs 62.46 cr). Profit before tax is Rs 77.14 crore, a growth of 172 per cent.

The company repaid debt of Rs 41 crore in first quarter. The interest cost is lower by 21 per cent compared to Q1 Fy04. With this debt-equity ratio of the company is at 0.62:1.

JVSL Records Rs 55 Cr Net Profit In Q1

Mumbai, July 27: Jindal Vijayanagar Steel (JVSL) has posted net profit of Rs 55 crore for the first quarter (Q1) of 2004-05, against Rs 23 crore in Q1 Fy2004. The companys sales (net of excise) was 1,007 crore against Rs 698 crore in Q1 Fy2004.

Total expenditure was at Rs 718 crore (Rs 471 cr), EBIDTA was at Rs 291 crore (Rs 227 cr) and interest payments was Rs 110 cr (Rs 121 cr) during the quarter under review.