Financial Daily from THE HINDU group of publications
Wednesday, Jul 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 28, 2004 |
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Corporate Results
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Steel Jisco Q1 net profit doubles Our Bureau
Mumbai , July 27 JINDAL Iron & Steel Company Ltd (Jisco) has ended the first quarter of 2004-05 with a 127 per cent increase in net profit at Rs 46.07 crore from Rs 20.31 crore in the year-ago period. Higher volumes, improved export turnover and better realisation have driven Jisco's profits higher. Sales for the quarter stood at Rs 609.24 crore, higher by 30 per cent compared to Rs 469.16 crore in the year-ago quarter. Exports contributed Rs 433.31 crore (73 per cent) to the turnover while domestic sales contributed 36 per cent. During the first quarter of 2004-05, the company has achieved production of 1,61,601 tonne of GP/GC reflecting a growth of 23 per cent. EBIDTA grew by 74 per cent to Rs 108.37 crore (Rs 62.46 crore). The company repaid a debt of Rs 41 crore in the first quarter. The interest cost is lower by 21 per cent compared to the corresponding period in the previous year. With this, the debt-equity ratio of the company is a healthy 0.62: 1.
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