After turning profitable in the last fiscal year, Essar Power Gujarat Ltd (EPGL) is confident of maintaining this momentum and has reported a good set of earnings numbers for the first quarter of FY17.
Speaking to CNBC-TV18, Sushil Maroo said that the power sector expects a more benevolent approach financial institutions and the RBI as the industry is going through a rough patch where completion of projects has delayed and demand is short.
The company's focus will primarily remain on improving margins and cash flow through asset optimisation and refinancing.
JSPL at the moment does not have any plans to list Jindal Power in the near-term, informed Sushil Maroo, Director & Group CFO of the company. He also added that they have provided all the requisite information regarding their mining operations to the Shah commission.
The Build-Own-Operate-Transfer model would not be suitable for setting up power plants in the country and could lead to complications in the sector, experts said today.
Demand for steel has weakened, says Sushil Maroo, director and group CFO of JSPL. However, he said prices are stable because of low supply.
In an interview with CNBC-TV18, Sushil Maroo of JSPL says, the Mining Bill will significantly impact the profitability. “The bottom-line might be impacted by 7-12%,” he adds.
Jindal Steel & Power Q4 consolidated net profit was up at Rs 1,002 crore versus Rs 963 crore, YoY. Its consolidated net sales were at Rs 3,848 crore versus Rs 3,182 crore, YoY. Sushil Maroo the Group CFO of the company, in an interview on CNBC-TV18 spoke about the company's earnings results and what the road ahead looked like moving forward.