19
KOLKATA: JSPL has reported a standalone profit of Rs 383 crore in the second quarter ended September 30, against a loss of Rs 255 crore in Q2FY18.
The company's revenues went up by 87% YoY to Rs 6,849 crore.
JSPL said its ebitda went up 85% over previous corresponding period to Rs 1,452 crore.
However, increasing raw material costs and declining realisation led to a pressure on the margins in Q2FY19.
On a consolidated basis, JSPL turnover went up 63% to Rs 9,982 crore in Q2FY19 while EBITDA went up 61% to Rs 2,207 crore.
While the July-September 2018 quarter is traditionally the weakest in terms of sales volumes and steel prices in any given year due to the monsoon rains, JSPL said with production at its Angul unit ramping up, standalone steel production rose 46% to 1.30 million tonnes (0.89 million tonnes in 2QFY18) while standalone steel sales during 2QFY19 increased to 1.28 million tonnes (up 53% YoY).
At Angul, production continues to be ramped up with the Blast Furnace achieving production levels of more than 9,000 tonnes per day.
During Q2FY19, production of pellets increased by 2% YoY to 1.62 million tonnes and the company achieved external sales of pellets of 0.74 million tonne during Q2FY19.
