O.P Jindal Group stock engaged in manufacturing and supplying iron & steel pipes and pellets in green following strong Q3FY24 results with a jump in net profit by 257 percent YoY.
The shares of Jindal Saw Limited Closed at Rs. 518.80, up 0.82 percent from its previous day’s close price of Rs. 515 and its market capitalization is Rs. 16,558 Crores. It has delivered multibagger returns of 355 percent in a year.
Jindal Saw Limited has declared its results for the quarter ended December Q3FY24 and it is as follows
Its revenue from operations grew by 9.65 percent YoY from Rs. 5157.94 Crores in Q3FY23 to Rs. 5655.79 Crores in Q3FY24 and it grew 3.46 percent QoQ from Rs. 5466.13 Crores in Q2FY24 to Rs. 5655.79 Crores in Q3FY24.
Its Net Profit grew by 257.24 percent YoY from Rs. 143.23 Crores in Q3FY23 to Rs. 511.68 Crores in Q3FY24 and it grew 43.91 percent QoQ from Rs. 355.55 Crores in Q2FY24 to Rs. 511.68 Crores in Q3FY24.
Jindal Saw Limited is engaged in the business of manufacturing and supplying iron & steel pipes and pellets, with a presence across India and overseas markets.
It has reported a return on equity (ROE) of 6.09 percent and a return on capital employed (ROCE) of 11 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 63.26 percent stake, the Domestic Institutional Investors hold 2.27 percent and the Foreign Institutional Investors (FII) hold 15.22 percent.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
