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Consolidated Coverage report on Jindal Stainless Ltd Q1 result August, 2017 JSL Q1 Results Electronic
Consolidated Coverage report on
Jindal Stainless Ltd Q1 result
August, 2017
JSL Q1 Results Electronic
Date Channel Programme Link
10 August, 2017 ET Now Hot Stocks https://www.youtube.com/watch?v=7kQ6vA4ZJbQ
10 August, 2017 BTVi Market Pulse https://www.youtube.com/watch?v=CIAIZ4BjG0Q
Print Date Publication Headline
10 August, 2017 Hindu Business Line GST transition hits bottom-line of Jindal Stainless
10 August, 2017 Economic Times - Hindi Jindal Stainless net profit at Rs.41.5cr
10 August, 2017 Business Standard - Hindi Jindal Stainless Ltd. earns profit
10 August, 2017 Economic Times - Gujarati Jindal Stainless profit up
10 August, 2017 Pioneer - Hindi Jindal Stainless Ltd. net profit at Rs.41.5cr
10 August, 2017 Dainik Jagran Net profit of Rs.42cr for JSL
Online Date Website Headline
11 August, 2017 economictimes.indiatimes.com Volumes were down but we managed because of better average realisation: Anurag Mantri, CFO, Jindal Stainless
11 August, 2017 economictimes.indiatimes.com JSL relies on government's renewed focus to improve financial performance
10 August, 2017 in.reuters.com BRIEF-India's Jindal Stainless posts June-qtr profit
10 August, 2017 uniindia.com JSL earns net profit of Rs 42 crore in Q1 of FY17-18
10 August, 2017 thehindubusinessline.com GST transition hits bottom-line of Jindal Stainless
10 August, 2017 business-standard.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
10 August, 2017 financialexpress.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
10 August, 2017 financialexpress.com Stocks of Tata Motors, Eicher Motors in focus today post Q1 results; GAIL, BHEL earnings to watch
10 August, 2017 timesofindia.indiatimes.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
10 August, 2017 dnaindia.com Jindal Stainless Ltd Q1 net profit at Rs.41.50 cr
10 August, 2017 dailypost.in Jindal Stainless Ltd Q1 net profit at Rs.41.50 cr
10 August, 2017 outlookindia.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
10 August, 2017 btvi.in JINDAL STAINLESS LTD Q1 NET PROFIT AT RS 41.50 CRORE
10 August, 2017 moneycontrol.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 crore
10 August, 2017 sify.com India's Jindal Stainless posts June-qtr profit
10 August, 2017 india.com Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
10 August, 2017 in.investing.com India's Jindal Stainless posts June-qtr profit
10 August, 2017 news.webindia123.com JSL earns net profit of Rs 42 crore in Q1 of FY17-18
Electronic
Link:
Date 10 August, 2017 Channel ET Now Duration 202 Seconds
Link:
Date 10 August, 2017 Channel BTVi Duration 340 Seconds
Date 10 August, 2017 Publication Hindu Business Line Page No. 02
Date 10 August, 2017 Publication Economic Times – Hindi Page No. 04
Date 10 August, 2017 Publication Business Standard – Hindi Page No. 02
Date 10 August, 2017 Publication Economic Times - Gujarati Page No. 03
Date 10 August, 2017 Publication Pioneer - Hindi Page No. 13
Date 10 August, 2017 Publication Dainik Jagran Page No. 16
Online http://economictimes.indiatimes.com/opinion/interviews/volumes-were-diown-but-we-managed-because-of-better-average-realisation-anurag-mantri-cfo-jindal-stainless/articleshow/60000947.cms
Date 11 August, 2017 Website www.economictimes.indiatimes.com
Volumes were down but we managed because of better average realisation: Anurag Mantri, CFO, Jindal Stainless In an interview with ET Now, Anurag Mantri, CFO, Jindal Stainless , gives his take on the company's quarterly earnings. Edited excerpts: Another quarter of a turnaround in operations by the company, let us start with your volumes, what kind of volume growth have you posted? Anurag Mantri: So as you have seen that our volumes for the year-on-year basis were up by 2% in revenue terms but if I look at in a volume terms we were actually down by 14%. We actually managed with the mix to make it up in our revenue. In the month of June we faced a small slowdown in the run up to the GST transition and whereby there was destocking from most of the retail segment, especially auto channels and traders so therefore our volumes in the quarter were down but we still made it up with our revenue through the better mix during the quarter. What about your average realisation, how much has that been and what kind of growth have you seen? Anurag Mantri: So average was better by close to 15% up from year-on-year basis and as I said though the volumes were down 14% but still we managed because of better average realisation primarily because of two reasons; better mix in our sales in terms of our product mix also lots of operational efficiencies which we have worked in the last year around in terms of our logistics, in terms of our cost of operation. That has paid us well in terms of making it up in the revenues. What about your margins, what aided that, was it the fall in nickel prices? Anurag Mantri: Nickel is the key raw material and when nickel price falls there is a slight time lag between when it gets passed on to the customer because of the sourcing mismatch and the timing because most of our contracts are on spot while the material gets purchased two months back. Sometime there is a timing mismatch but overall that is the reason that had an impact on the quarter but overall when we see it is eventually it is a pass through. So once we see a blip in the quarter but then next quarter you can expect better improvement in terms of the same kind of raw material which we purchase. What is the update on the listing of JCL and JUSL? Is that on the cards? Anurag Mantri: See JCL and JUSL are our group companies. Right now we do not have any plans to take them on listing.
Date 11 August, 2017 Website www.economictimes.indiatimes.com
JSL relies on government's renewed focus to improve financial performance Jindal Stainless Limited (JSL), one of India’s largest private sector stainless steel producers, has said it is betting on a ramp up in capacity utilisation and the government thrust on infrastructure to improve financial performance in coming quarters. “The outlook of stainless steel is promising, spurred by government’s renewed focus on infrastructure development. Our capacity utilization ramp-up is well on track and we have strengthened our focus on product differentiation. Resulting from these and other operational initiatives, we expect sustainable financial performance in the coming quarters," JSL chairman Rattan Jindal said. JSL reported a profit after tax of Rs 42 crore in Q1FY18 against a loss of Rs 78 crore in the corresponding period last year. EBITDA at Rs 251 crore was higher by 14% over last year. The growth comes on the back of better sales, operational efficiencies and an improved product mix as JSL revenues went up 2% in Q1FY18 at Rs 2,194 crore. The unaudited financial results of Jindal Stainless Limited for the Q1 FY 2017-18 were approved by its board of directors on Wednesday. Jindal said the company's June quarter profit was impacted by de-stocking just ahead of the launch of GST. "However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry," he added. JSL reported increased melt production in the quarter under review to 1,76,595 tonne from 1,72,969 tonne in same period last year. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18. An official statement said augmentation of the hot rolled annealed-pickled (HRAP) production in JSL is planned through de-bottlenecking and realignment of hot rolling process.
https://in.reuters.com/article/brief-indias-jindal-stainless-posts-june-idINFWN1KV0FO
Date 10 August, 2017 Website in.reuters.com
India's Jindal Stainless posts June-qtr profit Aug 9 (Reuters) - Jindal Stainless Ltd * June quarter net profit 415 million rupees versus loss 782.1 million rupees year ago * June quarter total income 22.04 billion rupees versus 21.57 billion rupees year ago Source text: (bit.ly/2hIpYdw) Further company coverage:
http://www.uniindia.com/jsl-earns-net-profit-of-rs-42-crore-in-q1-of-fy17-18/business-economy/news/955442.html
Date 10 August, 2017 Website www.uniindia.com
JSL earns net profit of Rs 42 crore in Q1 of FY17-18 Jindal Stainless Limited (JSL), one of India’s largest stainless steel producers, reported a profit after tax of Rs 42 crore in Quarter 1 of Financial Year 2017-18 (Q1 FY17-18). This marks a turnaround as compared to the loss of Rs 78 crore in the corresponding period last year (CPLY). Earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 251 crore, was higher by 14 per cent over CPLY. The growth comes on the back of better sales, operational efficiencies and a profitable product mix. According to a JSL press release, JSL witnessed steady increase in revenues in Q1 at Rs 2,194 crore, reflecting an annual jump of 2 per cent. Net worth of the company stood at Rs 2,020 crore as on 30th June, 2017. Reacting on the results, Chairman and Managing Director of JSL, Rattan Jindal said, “The outlook of stainless steel is promising, spurred by government’s renewed focus on infrastructure development. The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry. Our capacity utilization ramp-up is well on track and we have strengthened our focus on product differentiation. Resulting from these and other operational initiatives, we expect sustainable financial performance in the coming quarters.” Operational parameters remained positive with increased melt production in the quarter, from 1,72,969 tonnes CPLY to 1,76,595 tonnes. Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. Process improvements went ahead in full swing during the quarter.
http://www.thehindubusinessline.com/companies/gst-transition-hits-bottomline-of-jindal-stainless/article9809409.ece
Date 10 August, 2017 Website www.thehindubusinessline.com
GST transition hits bottom-line of Jindal Stainless Jindal Stainless has reported ₹41.50 crore net profit for the first quarter of financial year 2017-2018. In the corresponding quarter of the financial year 2016-2017, the company reported a loss of ₹78 crore. It reported a 2 per cent increase in revenue to ₹2,020 crore for the first quarter of the current f inancial year. Comparably, revenue for the company stood at ₹2,194 crore in the same quarter of the last financial year. Besides, this net profit of the first quarter of the financial year 2017-2018 is considerably lower than the ₹161.12 -crore net profit reported in the preceding quarter (fourth quarter of the last fiscal). In an official statement, the company said that the lowering of profit in sequential quarter is because of a GST transition impact due to short-term destocking by various retail-oriented segments such as traders, auto and channels. This impacted the sales volumes in June 2017. The company said: “There was also a planned periodic maintenance in few of our units in June viz SMS, FeCr, Power Plant and so on, leading to lower fixed cost absorption, and therefore, lower margins…Inventory losses due to fall in raw material prices especially nickel and FeCr.” In an official statement, Chairman and Managing Director, Rattan Jindal said, “The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry.”
http://www.business-standard.com/article/pti-stories/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-cr-117080901182_1.html
Date 10 August, 2017 Website www.business-standard.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... We expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum.
http://www.financialexpress.com/industry/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-cr/801050/
Date 10 August, 2017 Website www.financialexpress.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, “The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry… we expect sustainable financial performance in the coming quarters.” Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. “Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18,” it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE.
http://www.financialexpress.com/market/bse-nse-stocks-update-sensex-nifty-today-10-august-2017/801689/
Date 10 August, 2017 Website www.financialexpress.com
Stocks of Tata Motors, Eicher Motors in focus today post Q1 results; GAIL, BHEL earnings to watch The domestic stock market ended in negative territory for the third consecutive day on Wednesday, with the Sensex losing over 500 points in last three sessions. (Image: BSE) Indian markets are likely to open lower as the early indicator of NSE Nifty, SGX Nifty Futures was trading in negative territory, down 0.28% at 9,889.5 points. Meanwhile, Asian stocks steadied and US Treasury bond prices fell slightly on Thursday as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle. Asian stocks were supported after seeing Wall Street shares closed barely lower overnight, trimming losses, as investors appeared to brush off geopolitical concerns. Following stocks will be in watch today ahead of the Q1 earnings: GAIL, Bharat Forge, Bharat Heavy Electricals, Motherson Sumi Systems, Union Bank Of India, United Breweries, Adani Power, Adani Transmission, Allcargo Logistics, Asian Granito India, Balaji Telefilms, Bombay Dyeing, Dishman Pharma, Indo Count Industries, Kajaria Ceramics, Manappuram Finance, MOIL, Page Industries, Petronet LNG, Power Finance Corporation, SpiceJet, Sunteck Realty, Symphony, Coffee Day, Deccan Cements, Deepak Fertilizers, Gujarat State Petronet, Himatsingka Seide, Laurus Labs, Manpasand Beverages, Shilpa Medicare, Shipping Corporation Of India, Zydus Wellness. These stocks will be in focus on Thursday after first quarter earnings release and major announcements: Homegrown auto major Tata Motors yesterday reported 41.54 per cent jump in net profit to Rs 3,199.93 crore for the June quarter of the current fiscal, benefiting from one-time gain relating to changes made to JLR pension plans. It had posted a consolidated net profit of Rs 2,260.4 crore in the April-June period of last fiscal, Tata Motors said in a BSE filing. Income from operations during the period under review stood at Rs 59,818.22 crore, as against Rs 66,165.89 crore in the year-ago period, down 9.59 per cent. Commercial vehicles maker Eicher Motors yesterday reported a 22.14 per cent rise in consolidated net profit at Rs 459.62 crore for the first quarter ended June 30, 2017. Aluminium maker Nalco yesterday said its net profit fell by 4.44 per cent to Rs 129 crore for the first quarter ended June 30, 2017. “Nalco has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4 per cent growth over 17.04 lakh tonnes produced in the corresponding period of previous year,” the firm said in a statement. State-run Bank of India (BoI) swung back into profit in the first quarter ended June 30, reporting a net of Rs 88 crore yesterday on improvement in asset quality and lower provisioning. The lender had reported a net loss of Rs 741 crore in the same period last year.
Mining and metals firm MMTC yesterday reported a net profit of Rs 18.13 crore in the quarter ended June, on account of over two-fold increase in its income. Ajanta Pharma yesterday reported a 20.71 per cent decline in consolidated net profit to Rs 94.79 crore for the first quarter ended June 30, mainly due to de-stocking in trade channels ahead of GST implementation. State-owned Punjab and Sind Bank (PSB) has registered a fall of 52.45 per cent in its net profit at Rs 25.37 crore for the first quarter to June of 2017-18 on account of surging bad loans. Bayer CropScience yesterday posted a 14.86 per cent fall in net profit at Rs 111.7 crore in the first quarter of the current fiscal on poor sales. Deepak Nitrite Ltd yesterday said its net profit grew by 32 per cent to Rs 20.10 crore in the first quarter ended June 30 from Rs 15.20 crore in same period of the last year. Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. Wind turbine maker Inox Wind yesterday reported a consolidated net loss of Rs 39.02 crore in the first quarter ended June, due to lower revenues earned in the period. Aurobindo Pharma yesterday reported an 11.38 per cent decline in consolidated net profit at Rs 518.33 crore for the first quarter ended June 30, 2017. PTC India Financial Services Ltd (PFS) yesterday reported a rise of 17.4 per cent in net profit at Rs 79.21 crore in the first quarter ended June 30, 2017. Max Financial Services (MFS), the holding company for Max Life Insurance, reported a 37.8 per cent decline in net profit at Rs 66.58 crore for the first quarter ended June 30. Travel services provider Thomas Cook India yesterday reported a 10.04 per cent rise in consolidated net profit to Rs 68.24 crore for the first quarter ended June 30, 2017. Shares of Tata Chemicals yesterday went down by over 3 per cent after the company reported 14 per cent fall in consolidated net profit for the first quarter ended June 30. Union Bank of India yesterday said it will raise Rs 2,000 crore through various instruments, including rights issue and private placement. The state-owned lender’s committee of directors at its meeting today approved the capital raising issue. A number of companies, including Parsvnath Developers, JKumar Infraprojectsand Prakash Industries, yesterday moved the Securities Appellate Tribunal against Sebi classifying them as “shell companies”, contesting that their businesses are legitimate. Defending the move, Sebi said it took the action after receiving the list of companies from the corporate affairs ministry. Telecom operator Reliance Communications, which is reeling under debt of about Rs 45,000 crore, plans to issue shares to lenders for the debt that it has raised from them, as per a regulatory filing of the company. The board of RCom is scheduled to meet on August 12 which will consider convening annual general meeting of shareholders to enable the firm seek their nod for converting debt into equity shares. The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official at the ministry.
Indian Markets on Thursday: The domestic stock market ended in negative territory for the third consecutive day on Wednesday, with the Sensex losing over 500 points in last three sessions as pharma stocks tanked following weak first-quarter earnings reported by most of the companies. The pessimism gathered on the escalating tension between US and North Korea after North Korea said it is considering plans for a missile strike on the US Pacific territory of Guam. Over all sentiments were also muted following the Indian market watchdog SEBI order on Monday which has clamped down 331 suspected shell companies listed on exchanges. BSE Sensex fell over 200 points to end at 31,797.84 points and NSE Nifty 50 settled 70 points lower at 9,908.05 points. The shares of the heavyweight companies HDFC Bank, Tata Motors, Sun Pharma, L&T, Axis Bank, ICICI Bank, Adani Ports and SEZ, Maruti Suzuki, ITC and Bajaj Auto remain the major contributors in the down surge of the benchmark indices. Rupee Closing On Thursday: Amid heightened global uncertainties, the rupee yesterday retreated sharply by 21 paise to end at 63.84 against the American currency due to fresh demand for the greenback from importers and banks. Simmering geopolitical tensions took centre-stage once again following hardening of stand by both the US and North Korea, dampening forex market sentiment. A modest pick-up in the dollar demand, amid growing conviction that the Fed remains on track to raise interest rates further in 2017, largely put pressure on the local currency. US stocks on Thursday: US stocks clawed back losses late on Wednesday as investors appeared to brush off geopolitical concerns after falling in the wake of U.S. President Donald Trump’s “fire and fury” warning to North Korea. After a dip of as much as 0.52 percent earlier in the day, Wall Street’s three major indexes bounced off intraday lows. The Dow Jones Industrial Average fell 36.64 points, or 0.17 percent, to end at 22,048.7, the S&P 500 lost 0.9 point, or 0.04 percent, to 2,474.02 and the Nasdaq Composite dropped 18.13 points, or 0.28 percent, to 6,352.33.
http://timesofindia.indiatimes.com/business/india-business/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-cr/articleshow/59988431.cms
Date 10 August, 2017 Website www.timesofindia.indiatimes.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr
New Delhi, Aug 9 () Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... we expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum.
http://www.dnaindia.com/business/report-jindal-stainless-ltd-q1-net-profit-at-rs-4150-cr-2524363
Date 10 August, 2017 Website www.dnaindia.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... we expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE.
https://dailypost.in/news/jindal-stainless/
Date 10 August, 2017 Website www.dnaindia.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. Jindal Stainless Ltd Q1 net profit Rs 41.50 crIn a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, “The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry… we expect sustainable financial performance in the coming quarters.” Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. “Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. Jindal Stainless Ltd Q1 net profit Rs 41.50 cr To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18,” it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE. Jindal Stainless Ltd Q1 net profit Rs 41.50 cr. Jindal Stainless Ltd Q1 net profit Rs 41.50 cr
https://www.outlookindia.com/newsscroll/jindal-stainless-ltd-q1-net-profit-at-rs-4150-cr/1119846
Date 10 August, 2017 Website www.outlookindia.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindalsaid, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... We expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE.
http://indiatoday.intoday.in/story/jindal-stainless-ltd-q1-net-profit-at-rs-41.50-cr/1/1022225.html
Date 10 August, 2017 Website indiatoday.intoday.in
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... we expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE
http://www.btvi.in/article/read/industry/27622/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-crore
Date 10 August, 2017 Website www.btvi.in
JINDAL STAINLESS LTD Q1 NET PROFIT AT RS 41.50 CRORE Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry... we expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE.
http://www.moneycontrol.com/news/business/earnings-business/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-crore-2355289.html
Date 10 August, 2017 Website www.moneycontrol.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 crore Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, "The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry, we expect sustainable financial performance in the coming quarters." Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. "Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18," it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE.
http://www.sify.com/finance/brief-india-s-jindal-stainless-posts-june-qtr-profit-news-corporate-results-rijqukjjggcgc.html
Date 10 August, 2017 Website www.sify.com
India's Jindal Stainless posts June-qtr profit Aug 9 (Reuters) - Jindal Stainless Ltd * June quarter net profit 415 million rupees versus loss 782.1 million rupees year ago * June quarter total income 22.04 billion rupees versus 21.57 billion rupees year ago Source text: (http://bit.ly/2hIpYdw) Further company coverage:
http://www.india.com/news/agencies/jindal-stainless-ltd-q1-net-profit-at-rs-41-50-cr-2389275/
Date 10 August, 2017 Website www.india.com
Jindal Stainless Ltd Q1 net profit at Rs 41.50 cr Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017. The company had reported a net loss of Rs 78.21 crore in the year-ago period. Its total income rose to Rs 2,203.86 crore during the quarter under review from Rs 2,157.08 crore during the April- June quarter of the preceding fiscal, the company said in a BSE filing today. Total expenses of the company were at Rs 2,121.58 crore as against Rs 2,261.34 crore, it said. In a statement issued by the company, its Chairman and Managing Director Rattan Jindal said, “The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry… we expect sustainable financial performance in the coming quarters.” Operational parameters remained positive with increased melt production in the quarter at 1,76,595 tonnes as against 1,72,969 tonnes during the corresponding period last fiscal, the company said. “Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. To streamline goods movement, work on an Inland Container Depot (ICD) was commissioned which is expected to get operational by end of FY18,” it added. Jindal Stainless Ltd is one of the largest manufacturers of stainless steel in India with a capacity of 1 million tonne per annum. Shares of the company ended 4.89 per cent down at Rs 80.80 on BSE . https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-posts-juneqtr-profit-503339
Date 10 August, 2017 Website in.investing.com
India's Jindal Stainless posts June-qtr profit Aug 9 (Reuters) - Jindal Stainless Ltd JIST.NS
* June quarter net profit 415 million rupees versus loss 782.1 million rupees year ago
* June quarter total income 22.04 billion rupees versus 21.57 billion rupees year ago
https://news.webindia123.com/news/Articles/India/20170809/3165831.html
Date 10 August, 2017 Website news.webindia123.com
JSL earns net profit of Rs 42 crore in Q1 of FY17-18 Jindal Stainless Limited (JSL), one of India's largest stainless steel producers, reported a profit after tax of Rs 42 crore in Quarter 1 of Financial Year 2017-18 (Q1 FY17-18). This marks a turnaround as compared to the loss of Rs 78 crore in the corresponding period last year (CPLY). Earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 251 crore, was higher by 14 per cent over CPLY. The growth comes on the back of better sales, operational efficiencies and a profitable product mix.According to a JSL press release, JSL witnessed steady increase in revenues in Q1 at Rs 2,194 crore, reflecting an annual jump of 2 per cent. Net worth of the company stood at Rs 2,020 crore as on 30th June, 2017.Reacting on the results, Chairman and Managing Director of JSL, Rattan Jindal said, "The outlook of stainless steel is promising, spurred by government's renewed focus on infrastructure development. The June quarter profit was impacted by destocking just ahead of the launch of GST. However, transition to the new tax regime is expected to pay off positively as it mainstreams the entire industry. Our capacity utilization ramp-up is well on track and we have strengthened our focus on product differentiation. Resulting from these and other operational initiatives, we expect sustainable financial performance in the coming quarters."Operational parameters remained positive with increased melt production in the quarter, from 1,72,969 tonnes CPLY to 1,76,595 tonnes. Profit in the sequential quarter was impacted on account of planned periodic maintenance and destocking by certain segments due to GST transition. Process improvements went ahead in full swing during the quarter.
