Jindal Steel & Power Q2 Results Live : Jindal Steel & Power declared its Q2 results on November 6, 2024, reporting a significant decline in both revenue and profit. The company's topline fell by 8.46% year-on-year, while profits plummeted by 37.97%, raising concerns among investors and analysts alike.
In comparison to the previous quarter, Jindal Steel & Power faced a steeper decline, with revenue dropping by 17.66% and profit decreasing by 35.76%. This downturn signals potential challenges in the company's operational performance and market conditions.
On a positive note, the company's selling, general and administrative expenses saw a decline of 8.96% quarter-on-quarter and 11.15% year-on-year. However, this reduction was not enough to offset the overall decrease in revenue and profit.
The operating income for the quarter also suffered, decreasing by 30.24% compared to the previous quarter and 10.57% year-on-year. This trend indicates pressures on the company's profitability and operational efficiency.
Earnings per share (EPS) stood at ₹8.49 for Q2, reflecting a decrease of 38.52% year-on-year. Such a drop in EPS may influence investor sentiment and confidence moving forward.
Despite the current challenges, Jindal Steel & Power has delivered a 3.57% return in the last week, a modest 0.87% return over the past six months, and an impressive 27.24% year-to-date return. These figures suggest that the company may still hold potential for recovery.
Currently, Jindal Steel & Power boasts a market capitalization of ₹96,306.23 crore, with a 52-week high of ₹1,097 and a low of ₹621.6. This range indicates volatility in the stock price, potentially influenced by the recent quarterly results.
As of November 7, 2024, out of 26 analysts covering Jindal Steel & Power, opinions are mixed. Two analysts have given a strong sell rating, two have rated it as sell, four have given hold ratings, while nine analysts recommend buying, and another nine have given a strong buy rating. The consensus recommendation remains to buy, suggesting some analysts still see value in the stock despite recent performance.
Jindal Steel & Power Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 11213.31 | 13617.84 | -17.66% | 12250.16 | -8.46% |
| Selling/ General/ Admin Expenses Total | 275.11 | 302.2 | -8.96% | 309.64 | -11.15% |
| Depreciation/ Amortization | 695.96 | 682.92 | +1.91% | 603.68 | +15.29% |
| Total Operating Expense | 9709.02 | 11461.44 | -15.29% | 10568.16 | -8.13% |
| Operating Income | 1504.29 | 2156.4 | -30.24% | 1682 | -10.57% |
| Net Income Before Taxes | 1213.27 | 1859.05 | -34.74% | 1384.52 | -12.37% |
| Net Income | 860.9 | 1340.15 | -35.76% | 1387.82 | -37.97% |
| Diluted Normalized EPS | 8.49 | 13.31 | -36.21% | 13.81 | -38.52% |
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