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JSPL Records Highest Revenue Ever In FY18

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| May 10 , 2018 , 13:50 IST

Jindal Steel and Power Limited (JSPL) has witnessed a turnaround in the 4th quarter, coming back to profit on a standalone basis after 13 quarters and recording highest ever revenue in FY18. The company on Wednesday reported a net profit of Rs 145 crore in Q4FY18 as compared to a loss of Rs 74 crore reported in the last quarter and loss of Rs 116 crore in the same quarter last year.

"JSPL achieved its highest ever-annual revenue of Rs. 27,841 Cr, which is 23% higher than previous year. The aggregate EBITDA rose by 37% compared to previous year FY17. The overall EBITDA for FY18 stood at 23%  vs. 21% for FY17, supported by better operating profits across all its Steel & Power business globally," the firm said in a release.

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"The revenue for 4QFY18 increased by 10% compared to the same quarter in FY17. On back of higher coal costs, which have increased over 40% YoY, EBITDA margin for the quarter ending March’18 dropped to 28% as compared to 44% last year," said the JSPL statement.

Amongst JSPL's global ventures in Oman, Mozambique and Australia, Oman reported the highest ever EBITDA in 4QFY18.

"During the quarter ended 31st March’2018, Jindal Shadeed [Oman] recorded its ever highest production of 0.46 million tonnes of crude steel (as against 0.39 million tonnes in 4QFY17). It also reported its highest ever EBITDA," the statement from JSPL said.