OREANDA-NEWS. July 13, 2011. Jindal Steel and Power Limited (JSPL), one of the leading steel manufacturing companies in India, reported a robust growth in revenue and profits for the quarter ended, March 31, 2011.

In terms of consolidated results, the company achieved an increase in net profit of 4% to Rs. 1001.70 Cr for the quarter ended March 31, 2011 from Rs 963.38 Cr for the quarter ended March 31, 2010, while the turnover jumped up by 21% to Rs 3,854.54 Cr for the quarter ended March 31, 2011 from Rs 3,175.59 Cr for the quarter ended March 31, 2010.

The consolidated results for the year ended March 31, 2011 were: the net profit went up by 5% to Rs. 3,804.01 Cr for the year ended March 31, 2011 from Rs. 3,634.56 Cr during the year ended March 31, 2010. The turnover for the year ended March 31, 2011 stood at Rs. 13,111.60 Cr, resulting in an increase of 18%, as against Rs. 11,091.54 Cr for the year ended March 31, 2010.

As far as standalone results are concerned, the net profit increased by 18% to Rs. 648.33 Cr for the quarter ended March 31, 2011 from Rs. 548.99 Cr during the quarter ended March 31, 2010. The turnover for the quarter ended March 31, 2011 stood at Rs. 2,742.19 Cr, resulting in an increase of 15%, as against Rs. 2,388.84 Cr in the quarter ended March 31, 2010.

The standalone results for the year ended March 31, 2011 were equally impressive. The net profit went up by 39% to Rs. 2,064.12 Cr for the year ended March 31, 2011 from Rs. 1,479.69 Cr during the year ended March 31, 2010. The turnover for the year ended March 31, 2011 stood at Rs. 9,573.63 Cr, resulting in an increase of 30%, as against Rs. 7,367.59 Cr for the year ended March 31, 2010.

Major Highlights of the Financial Year 2010-11

-           Consolidated EBIDTA has increased by 9% in the current year to Rs. 6,474.60 Cr. (previous year Rs. 5,959.60 Cr.)

-           Consolidated Cash profit has increased by 7% to Rs. 5,115.02 Cr. (previous year Rs. 4,759.96 Cr.)

2. Production

JSPL has shown tremendous growth in production of Steel and Power. Details of growth in production for the quarter and financial year ended March 31, 2011 with the corresponding quarter in the previous financial year are as under:

For the Quarter IV ended March 31, 2011:         

Product (MT)

Qtr IV

Growth

2010-11

2009-10

(%)

Sponge Iron

322,335

334,956

(4%)

Pig Iron / Hot metal

426,044

426,359

0%

Pellets

866,725

207,748

317%

Steel Products*

622,594

492,118

27%

Power (million kWh)

1,000

749

34%

* Only Slab/Round/Bloom/Beam Blank

For the Financial Year 2010-11

Product (MT)

Year

Growth

2010-11

2009-10

(%)

Sponge Iron

1,319,840

1,309,408

1%

Pig Iron / Hot metal

1,665,581

1,524,153

9%

Pellets

2,787,285

226,898

1128%

Steel Products*

2,272,692

1,961,162

16%

Power (million kWh)

3,420

2,942

16%

* Only Slab/Round/Bloom/Beam Blank

3.         Sales

Details of sales for the quarter and the financial year ended March 31, 2011 with the corresponding quarter in the previous financial year are as under:

For the Quarter IV ended March 31, 2011:

Product (MT)

Qtr IV

Growth (%)

2010-11

2009-10

Sponge Iron*

8,258

97,164

(92%)

Pig Iron*

40,694

105,020

(61%)

Pellets

224,958

11,893

1792%

Steel Products**

531,104

503,176

6%

Power (million kWh)

299

240

25%

For the Financial Year 2010-11:

Product (MT)

Year

Growth (%)

2010-11

2009-10

Sponge Iron*

113,894

343,369

(67%)

Pig Iron*

201,688

245,193

(18%)

Pellets

564,510

11,893

4647%

Steel Products**

1,900,338

1,737,917

9%

Power (million kWh)

926

946

(2%)

* Sponge Iron / Pig Iron sale is down due to higher captive consumption

**Slabs/Bloom/Billets/Structurars & Rails/Universal Plate/Coil/Converted Angle/Channel/ Wire Rod/TMT/Fabricated Beams/Plates

4. Jindal Power Limited (JPL) - Qtr IV

Consolidated audited financial result includes result of Jindal Power Limited, a subsidiary of the Company, as under:-

For the Quarter IV ended March 31, 2011

> 

Turnover

Rs. 827.99 Crores

> 

Profit After Tax

Rs. 495.54 Crores

> 

Generation

2178.18 million units

> 

PLF

100.84%

For the Financial Year 2010-11:

> 

Turnover

Rs. 3337.73 Crores

> 

Profit After Tax

Rs. 2001.60 Crores

> 

Generation

8596.94 million units

> 

PLF

98.14%