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JSPL Q2 profit seen up 2.7% at Rs 918 cr
Jindal Steel and Power (JSPL) is expected to report a rise of 2.7% YoY in profit after tax of Rs 918 crore in the quarter ended September 2011. The company had posted a profit of Rs 894.24 crore in the corresponding quarter of last fiscal.
Jindal Steel and Power (JSPL) is expected to report a rise of 2.7% YoY in profit after tax of Rs 918 crore in the quarter ended September 2011. The company had posted a profit of Rs 894.24 crore in the corresponding quarter of last fiscal.
Net sales are seen going up by 25.7% to Rs 3,869 crore from Rs 3,077.95 crore, year-on-year.
EBITDA is likely to go up by 10% to Rs 1,649 crore from Rs 1,497.54 crore.
Factors in focus:
Likely to post relatively better results than its peer steel companies owing to raw material integration in both steel and power
Steel business performance to be aided by higher pellet volumes and realisations
((JSPL doesn't source any iron ore from Karnataka))
Steel realizations to benefit slightly on the back of approximate 3% increase in long prices in the last quarter
Power sales volumes are likely to marginally increase on a YoY basis while the average rate is likely to come in at Rs 3.8/unit showing a decline sequentially and also on a y-o-y basis
Power sales volumes to decline 2% QoQ due to announced maintenance shutdowns at two of the power units
Rupee depreciation may hurt as the company has unhedged overseas borrowings and likely to hit their bottom-line
