Jindal Group stock with significant presence in sectors like producing steel, mining and power generation declared its Q3FY24 results with a 272 percent YoY jump in Net Profits.
With a market capitalization of Rs. 74,976 Crores, the shares of Jindal Steel and Power Limited were trading at Rs. 757.15, down 2.81 percent fom its previous day’s close price of Rs. 757.15.
Its revenue from operations declined by 6.27 percent YoY from Rs. 14,676.94 Crores in Q3FY23 to Rs. 13,755.91 Crores in Q3FY24 and it declined 3.06 percent QoQ from Rs. 14,191.51 Crores in Q2FY24 to Rs. 13,755.91Crores in Q3FY24.
Its Net Profit grew by 272 percent YoY from Rs. 518.27 Crores in Q3FY23 to Rs. 1,927.99 Crores in Q3FY24 and it grew 38.69 percent QoQ from Rs. 1,390.1 Crores in Q2FY24 to Rs. 1927.99 Crores in Q3FY24.
Jindal Steel and Power Limited is one of India’s leading steel producers with significant presence in sectors like mining and power generation.
It has reported a return on equity (ROE) of 10.6 percent and a return on capital employed (ROCE) of 14.2 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 61.21 percent stake, the Domestic Institutional Investors hold 15.33 percent and the Foreign Institutional Investors (FII) hold 11.75 percent.
Written by: Bharath K.S
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