{"id":287508,"date":"2019-08-17T06:24:08","date_gmt":"2019-08-17T06:24:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=287508"},"modified":"2019-08-17T06:24:08","modified_gmt":"2019-08-17T06:24:08","slug":"jindal-steel-and-power-reports-rs-87-crore-loss-in-june-quarter-on-higher-raw-material-costs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jindal-steel-and-power-reports-rs-87-crore-loss-in-june-quarter-on-higher-raw-material-costs\/","title":{"rendered":"Jindal Steel and Power reports Rs 87 crore loss in June quarter on higher raw material costs"},"content":{"rendered":"<p>Jindal Steel and Power (JSPL) on Wednesday posted a consolidated loss of Rs 87.4 crore for the quarter ended June. Losses were driven by higher raw material costs as seaborne iron ore prices remained strong because of concerns over supply disruption. The company had posted a profit of Rs 109.9 crore in Q1FY19, after 14 loss-making quarters. At the time iron ore prices were $64\/MT, compared with $109\/MT at the end of Q1FY20.<\/p>\n<p>JSPL reported revenues of Rs 9,945.6 crore for the quarter, recording a rise of 3% year-on-year (y-o-y). Earnings before interest, taxes, deprecation and amortisation were Rs 2,139.4 crore, falling 3.4% y-o-y.<\/p>\n<p>The company\u2019s Ebitda margin was 21.5%, down 140 basis points year-on-year. The company had gained Rs 108.7 crore under \u2018work in progress and stock in trade\u2019 in the first quarter of FY19, compared with expense of Rs 45.6 crore under this segment in Q1FY20, contributing to lower Ebitda.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jindal Steel and Power (JSPL) on Wednesday posted a consolidated loss of Rs 87.4 crore for the quarter ended June. Losses were driven by higher raw material costs as seaborne iron ore prices remained strong because of concerns over supply disruption. The company had posted a profit of Rs 109.9 crore in Q1FY19, after 14 loss-making quarters. At the time iron ore prices were $64\/MT, compared with $109\/MT at the end of Q1FY20. JSPL reported revenues of Rs 9,945.6 crore for the quarter, recording a rise of 3% year-on-year (y-o-y). Earnings before interest, taxes, deprecation and amortisation were Rs 2,139.4 [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-287508","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=287508"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287508\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=287508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=287508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=287508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}