Mid Cap Metals Company Net Profit Dips 69% YoY, Recommends 200% Dividend

Mid cap company operating in Metals & Ferrous sector, Jindal Steel & Power Ltd on Tuesday announced a dip of 69% YoY in its consolidated net profit to Rs 462 crore for March quarter as against Rs 1511 crore declared in the same quarter of last fiscal. Board of JSPL recommended a final dividend of Rs 2 per equity. Shares of JSPL declined 2.49% to Rs 506.90 apiece. Check details below:

Jindal Steel & Power Ltd Recommends Dividend: According to the BSE filing of the company, "considered and recommended final Dividend for the financial year 2022-23@ 200%, i.e., Rs. 2/- per equity share of face value Re. 1/- each, out of the profits of the Company for the financial Year 2022-23, which shall be paid, subject to the approval of the shareholders in the ensuing Annual General Meeting and other authorities, wherever required."

Jindal Steel & Power Ltd Stock Performance & Return: Last trading price of JSPL is Rs 560.20 apiece on BSE. The stock's 52-week high price is Rs 622.40 per share and 52-week low price is Rs 304.20 apiece, respectively. The company has a market capitalisation of Rs 57,145.34 crore. Shares of JSPL gave return of 9% in last 6-months, 21% in last 1-year, 34% in last 2-years, and 492% in last 3-years.

JSPL Q4: It is worth mentioning that JSPL's revenue from operations declined 4% to Rs 13, 691 crore for the quarter under consideration as against Rs 14,339 crore declared in the year ago quarter. Its adjusted EBITDA for the quarter declared at Rs 2,240 crore in spite of strong surge in raw material costs.

"Our focus on cash generation is one of the key factors driving our growth. We are on track with our stated growth plans and are working towards making our angul integrated steel complex as more cost competitive with the opening of coal mines at Utkal-c in near future," stated Bimlendra Jha, MD, Jindal Steel and Power.

JSPL About: JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors. The company has committed investments exceeding US $ 30 billion in the future and has several business initiatives running simultaneously across continents, according to its official website.