Jindal Saw posts 67% profit surge in Q1 FY24

30 Jul 2024 , 09:48 AM

Jindal Saw Ltd reported a significant 66.7% year-on-year increase in net profit, reaching ₹441.1 Crore for the first quarter ending June 30, 2024.

In the corresponding quarter of the previous year, the company’s net profit was ₹265 Crore, as stated in a regulatory filing. The company’s revenue from operations rose by 12%, amounting to ₹4,939 Crore, compared to ₹4,410 Crore in the same period of the previous fiscal year.

At the operating level, EBITDA surged by 38.2%, reaching ₹839.6 Crore in the first quarter of this fiscal year, up from ₹607.7 Crore in the same quarter last year.

The EBITDA margin improved to 17% in the reporting quarter, up from 13.8% in the corresponding period of the prior fiscal year.

EBITDA stands for earnings before interest, tax, depreciation, and amortisation, indicating the company’s profitability before accounting for these expenses.

The order book for iron and steel pipes and pellets is approximately ₹165 Crore, up from the previous quarter’s ₹153 Crore. This order book includes ₹163.2 Crore for Iron & Steel Pipes and ₹1.5 Crore for Pellets.

At the time of writing on July 30, 2024 at 09:46 am, shares of Jindal Saw is currently trading at ₹644 which is a 7.15% gain than the previous close. Jindal Saw stock has witnessed a total of 98% gain in the last one year, and 52% gain since the beginning of the year.

Due to high demand in the water sector, the company sold 55,000 MT of rust-free pipes from its south division during Q1 of FY25.

The order book for the south division stands at 245,000 MT as of June 30, 2024, an increase from 173,000 MT as of March 31, 2024. This increase is included in the overall order book.