{"id":551537,"date":"2023-02-01T09:24:16","date_gmt":"2023-02-01T03:54:16","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=551537"},"modified":"2023-02-01T10:04:44","modified_gmt":"2023-02-01T04:34:44","slug":"jindal-steel-power-net-profit-down-68-per-cent-to-rs-518-67-crore","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jindal-steel-power-net-profit-down-68-per-cent-to-rs-518-67-crore\/","title":{"rendered":"Jindal Steel &amp; Power net profit down 68 per cent to Rs 518.67 crore"},"content":{"rendered":"<p>Jindal Steel &amp; Power has reported a 67.91 per cent year-on-year (YoY) drop in consolidated net profit to Rs 518.67 crore in Q3FY23 on higher input cost and lower steel prices. In the year-ago period, profit was at Rs 1,616.67 crore.<\/p>\n<p>Revenue from operations on a consolidated basis at Rs 12,452.44 crore declined by 0.57 per cent over the same period last year. A poll of analysts by Bloomberg had estimated revenues at Rs 13,105.9 crore and net income at Rs 1,004 crore.<\/p>\n<p>On a standalone basis, the company recorded revenues of Rs 11,832.25 crore and a net loss of Rs 4,512.27 crore. The company said that it had created a provision of Rs 7,253 crore towards diminution in value of its investments in its wholly owned subsidiary, Jindal Steel &amp; Power (Mauritius).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jindal Steel &amp; Power has reported a 67.91 per cent year-on-year (YoY) drop in consolidated net profit to Rs 518.67 crore in Q3FY23 on higher input cost and lower steel prices. In the year-ago period, profit was at Rs 1,616.67 crore. Revenue from operations on a consolidated basis at Rs 12,452.44 crore declined by 0.57 per cent over the same period last year. A poll of analysts by Bloomberg had estimated revenues at Rs 13,105.9 crore and net income at Rs 1,004 crore. On a standalone basis, the company recorded revenues of Rs 11,832.25 crore and a net loss of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-551537","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551537","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=551537"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551537\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=551537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=551537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=551537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}