OREANDA-NEWS. January 19, 2012. Jindal Steel release financial results for 3Q ended on December 31, 2011.

1. Unaudited Financial Results

Highlights of

3rd quarter

ended Dec. 31, 2011

Standalone basis -

-           Net Sales up by 37% to Rs. 3,298.32 Cr (Rs. 2,410.23 Cr)*

-           PAT at Rs. 461.07 Cr (Rs. 501.93 Cr)*

Consolidated basis -

-           Net Sales up by 37 % to Rs. 4,357.69 Cr (Rs. 3,173.99 Cr)*

-           PAT up by 7 % at Rs. 1,015.88 Cr (Rs. 951.10 Cr)*.

*figures in brackets are for 3rd quarter of the financial year 2010-11

Highlights of

9 months period

ended

Dec. 31, 2011

*

Standalone basis -

-           Net Sales up by 34 % to Rs. 9,158.66 Cr (Rs. 6,831.44 Cr)*

-           PAT at Rs. 1,327.02 Cr# (Rs. 1,415.79 Cr)* (# After exceptional item of Rs. 147.75 Crores)

Consolidated basis -

-           Net Sales up by 37 % to Rs. 12,724.99 Cr (Rs. 9,257.06 Cr)*

-           PAT is up by 1 % at Rs. 2,840.71 Cr# (Rs. 2,802.31 Cr)* (# After exceptional item of Rs. 48.23 Crores)

figures in brackets are 9 months ended of the financial year 2010-11

2. Production

JSPL has shown increase in production of all its major products. Details of growth in production for the quarter ended December 31, 2011 with the corresponding quarter in the previous financial year are as under:

For the Quarter III ended December 31, 2011:

Product (MT)

Qtr III

Growth (%)

2011-12

2010-11

Metallics (DRI & Pig Iron)

770,958

770,162

- %

Steel Products*

756,662

581,567

30 %

Pallets

938,280

801,865

17 %

Power (million kWh)

* Only Slab/Round/Bloom/Beam Blank

1,182

916

29 %

3. Sales

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

For the Quarter III ended December 31, 2011:

Product (MT)

Qtr III

Growth (%)

2011-12

2010-11

Metallics (DRI & Pig Iron)

38,510

93,084

(59%)

Steel Products#

590,940

502,926

18 %

Pallets

464,329

206,998

124 %

Power (million kWh)

350

256

37 %

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

4. Commencement of Commercial Operation of 5th & 6th Unit of 135 MW Power generation capacity on 18th January 2012

JSPL has today i.e 18th January 2012 commissioned 2 units of 135 MW (1 unit at Dongamahua in Raigarh, Chhattisgarh and 1 unit at Angul in Odisha). With this total 6 units have been commissioned in series of total 10 units of 135 MW.

4. Jindal Power Limited (JPL) - III Qtr.

Consolidated unaudited financial results of quarter ended December 31, 2011 include financial results of Jindal Power Limited, a subsidiary of the Company, as under:-

> Turnover

Rs. 881.40 Crores

> Profit After Tax

Rs. 481.32 Crores

> Generation

2255.01 million units

> PLF

102.13%