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JSP (formerly Jindal Steel and Power) shares fell 6.36 per cent to ₹786.65 on the NSE today after the company reported a 51 per cent year-on-year decline in consolidated profit after tax to ₹951 crore for the third quarter ended December 2024. The stock hit an intraday low of ₹723.35.
The steel manufacturer’s consolidated gross revenue remained flat at ₹13,707 crore compared to ₹13,698 crore in the same quarter last year. Adjusted EBITDA declined 24 per cent year-on-year to ₹2,133 crore after accounting for a one-off foreign exchange gain of ₹51 crore during the quarter.
The company’s net debt increased to ₹13,551 crore as of December 31, 2024, from ₹12,464 crore in September 2024. Consequently, the net debt to EBITDA ratio rose to 1.40x from 1.21x in the previous quarter.
On the operational front, steel production grew 3 per cent year-on-year to 1.99 million tonnes while sales volume increased 5 per cent to 1.90 million tonnes. The share of exports stood at 7 per cent during the quarter. The company reported capital expenditure of ₹2,857 crore for the quarter, primarily directed towards expansion projects at its Angul facility.
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