Jindal Saw Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2018
January 24, 2019 at 10:43 am
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Jindal Saw Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2018. For the quarter, the company reported revenue from operations of INR 23,419.1 million against INR 21,146.9 million a year ago. Net profit from continuing operations after tax was INR 1,501.6 million against INR 1,100.5 million a year ago. Profit was INR 1,503.2 million against INR 962.3 million a year ago. Basic and diluted earnings per share from continuing operations were INR 4.70 against INR 3.44 a year ago. Basic and diluted earnings per share were INR 4.70 against INR 3.01 a year ago.
For the nine months, the company reported revenue from operations of INR 69,634.2 million against INR 48,863.0 million a year ago. Net profit from continuing operations after tax was INR 3,455.1 million against INR 2,359.4 million a year ago. Profit was INR 3,474.6 million against INR 2,203.7 million a year ago. Basic and diluted earnings per share from continuing operations were INR 10.81 against INR 7.38 a year ago. Basic and diluted earnings per share were INR 10.87 against INR 6.89 a year ago.
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.