Jindal Saw Limited Announces Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended December 31, 2017; Announces Production Results for the Third Quarter Ended December 31, 2017
January 24, 2018 at 09:46 am
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Jindal Saw Limited announced unaudited standalone earnings results for third quarter and nine months ended December 31, 2017. For the quarter, the company reported revenue from operations of INR 21,146.9 million against INR 14,267.5 million a year ago. Total income was INR 21,806.9 million against INR 14,666.2 million a year ago. Profit from continuing operations before tax was INR 1,361.7 million against INR 1,222.7 million a year ago. Net profit from continuing operations after tax was INR 962.3 million against INR 806.7 million a year ago. Basic and diluted earnings per share were INR 3.01 against INR 2.52 a year ago. EBITDA was INR 3,151 million against INR 2,750 million a year ago.
For the nine months, the company reported revenue from operations of INR 48,913.6 million against INR 41,557.1 million a year ago. Total income was INR 50,733.0 million against INR 42,747.4 million a year ago. Profit from continuing operations before tax was INR 3,061.7 million against INR 2,934.7 million a year ago. Net profit from continuing operations after tax was INR 2,203.7 million against INR 1,937.7 million a year ago. Basic and diluted earnings per share were INR 6.89 against INR 6.06 a year ago. EBITDA was INR 8,188 million against INR 8,063 million a year ago.
During third quarter ended December 31, 2017, Company produced Pipes & pig Iron of app. 330,000 MT (excluding Job work) and Pellets - app. 338,000 MT. During third quarter ended December 31, 2016, Company produced 186,000 MT pipes and 323,000 MT Pellets. Thus in third quarter the production of pipe was higher by app. 75%.
Jindal Saw Limited is an India-based company, which is a manufacturer and supplier of iron and steel pipes and pellets having manufacturing facilities in India, the United States of America (USA), Europe and United Arab Emirates (UAE). The Company has one primary business segment i.e. Iron & Steel products, on standalone basis. The Iron & Steel segment consists of the manufacturing of iron and steel pipes and pellets. Its Business Divisions consists of Welded Line Pipes; Ductile Iron (DI) Pipes; Seamless Pipes & Tubes, and Mining and Pellet division. The Company manufactures submerged arc welded (SAW) pipes and spiral pipes for the energy transportation sector; carbon, alloy and seamless pipes and tubes for industrial applications; DI pipes and fittings for water and wastewater transportation. It serves a range of customers' including oil and gas exploration, transportation, power generation, supply of water for drinking, drainage, irrigation purposes, and others.
Jindal Saw Limited Announces Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended December 31, 2017; Announces Production Results for the Third Quarter Ended December 31, 2017