Financial Results
Standalone
First quarter ended 30th. June, 2012 :
The turnover for the first quarter ended 30 June, 2012 increased by 32% to Rs.33.3109bn as against Rs.25.2694bn. in the same period of the previous year.
Net Profit before exceptional item is up by 25% to Rs.5.8654bn as against Rs. 4.7016bn in the same period of the previous year.
Profit after tax is Rs.124.2mn as against Rs.4701.6mn recorded in the same period of the previous year.
Consolidated
First quarter ended 30th. June, 2012 :
The turnover for the first quarter ended 30 June, 2012 up by 19% to Rs.47.0147bn as against Rs.39.4451bn in the same period of the previous year.
The consolidated net profit before exceptional item increased by 3% to Rs. 9.596bn as against Rs. 9.3303bn in the same period of the previous year.
The profit after tax stood at Rs. 3.8548bn as aginst Rs.9.3303bn in the same period of the previous year.
Production
JSPL has shown growth in production of both Steel and Power. Details of growth in production for the quarter ended June 30, 2012 with the corresponding quarter in the previous financial year are as under:
For the Quarter I ended June 30, 2012:
| Product (MT) |
Qtr I |
Growth (%) |
| 2012-13 |
2011-12 |
| Sponge Iron |
374,683 |
363,653 |
3% |
| Pig Iron / Hot metal |
484,492 |
402,107 |
20% |
| Pellets |
1,006,080 |
828,800 |
21% |
| Steel Products* |
765,587 |
607,726 |
26% |
| Power (million kWh) |
1,516 |
1,007 |
51% |
Sales
Details of sales for the quarter ended June 30, 2012 with the corresponding quarter in the previous financial year are as under:
For the Quarter I ended June 30, 2012:
| Product (MT) |
Qtr I |
Growth (%) |
| 2012-13 |
2011-12 |
| Sponge Iron |
1,925 |
NIL |
------- |
| Pellets |
395,447 |
347,104 |
14% |
| Steel Products** |
561,337 |
457,350 |
23% |
| Power (million kWh) |
584 |
315 |
85% |
For the Quarter I ended June 30, 2012:
The Company had made strategic business investment in Bolivia through its subsidiaries in Bolivia. In view of non fulfillment of contractual obligations by the Government of Bolivia, Jindal Steel Bolivia SA was forced to terminate the El Mutun Joint Venture Contract with the Government of Bolivia. Therefore, the investment made by company in El Mutun Joint Venture Project & other Operations have been impaired. As a matter of prudence, the Company has made a provision of Rs.5.7412bn in the quarter ended June 30, 2012.
3rd Unit of 135 MW Power Plant at Angul, Odisha have been commissioned on 09.07.2012, with this total 7 units are commissioned in series of 10 units of 135 MW. Balance 3 units are expected to be commissioned in the current financial year.