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JSPL Q4 PAT soars to Rs 2,139 cr


On a consolidated basis, Jindal Steel & Power (JSPL) s net profit surged 600% to Rs 2,139.28 crore on 74.8% jump in net sales to Rs 11,887.88 crore in Q4 March 2021 over Q4 March 2020.
The quarterly result got a boost from improved performance across steel, power and overseas mining operations in Q4FY21. EBITDA soared 205.60% to Rs 5,287 crore in Q4 FY21 as against Rs 1,730 crore in Q4 FY20. Net debt reduced by Rs 3,475 crore in Q4 FY21 and Rs 13,773 crore in FY21.
The company s core focus right now is to sweat out assets and make JSPL net debt free. Thereafter, the company will embark on a journey to expand its profitability and volumes via the Angul expansion from 6 MTPA to 12 MTPA taking JSPL s overall Steel capacity to c.16 MTPA in India. ....

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Jindal Steel & Power to divest 96.42% stake in Jindal Power


Jindal Steel & Power has accepted a binding offer from Worldone (Acquirer), to divest its 96.42% stake in Jindal Power (JPL), a material subsidiary of the Company.
The divestment is in line with JSPL s strategic objective to continuously reduce its debt, focus on its India Steel business and significantly reduce its carbon footprint by almost half as part of its ESG objectives. The equity value is an all-cash offer of Rs. 3,015 crore for 96.42% stake in JPL including 3,400 MW Coal fired power plants in State of Chhattisgarh and other non-core assets owned by JPL.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) ....

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JSPL gains after reporting highest ever production, sales in FY21


Jindal Steel & Power (JSPL) added 1.79% to Rs 389.45 after the company posted its highest ever production and sales figure for FY21.JSPL ended the fiscal year on a strong note with sales hitting a new record of 786,000 tonnes in FY 2021, up 61% year on year. JSPL said that combination of robust domestic demand, attractive export markets (accounting for 38% of sales) and wide range of products have all contributed to JSPL reporting the steepest rise in monthly sales in FY21.
The steel maker said it production has comfortably crossed the 2 million tonnes mark for the first time. JSPL reported a 34.4% jump in production to 2.07 million tonnes in Q4 March 2021 from 1.54 million tonne reported in Q4 March 2020. The company s production in March 2021 rose 21% YoY to 730,000 tonnes. ....

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Jindal Steel & Power posts highest ever production and sales in FY21


Jindal Steel & Power (JSPL) has ended the fiscal year on a strong note with sales hitting a new record of 786,000 tonnes in Mar 21 (up 61% y-o-y).
Combination of robust domestic demand, attractive export markets (accounting for 38% of sales) and wide range of products have all contributed to JSPL reporting the steepest rise in monthly sales in FY21.
With Mar 21 production also rising by 21% y-o-y to 730,000 tonnes, 4QFY21 production has comfortably crossed the 2 million tonnes mark for the first time ever (2.07 mt).
The company s operations have displayed resilience in the face of the pandemic, posting the highest ever production and sales in FY21 of 7.51mt (+19% y-o-y) and 7.28mt (+20% y-o-y) respectively. Exports accounted for 35% of sales in FY21 compared to 13% in the prior year. ....

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