The company’s scrip touched a high of Rs 427 on the National Stock Exchange, 1.9 per cent higher than previous close.
The strong showing in the second quarter came amid higher volumes and record-high steel prices. During the same period a year ago, JSPL had reported a net profit of Rs 897 crore, the company said in a regulatory filing on Tuesday.
The company’s net profit in April-June was at Rs 2,515 crore. For the quarter under review, JSPL’s total revenue from operations was at Rs 13,611 crore, registering a gain of 67 per cent on year.
Earnings before interest, taxes, depreciation and amortization stood at Rs 4,594 crore in July-September, up 91 per cent year-on-year.
The sales volumes jumped 32 per cent on a sequential basis in July-September and 10 per cent on a yearly basis to a record high 2.13 million tonnes.
Consolidated net debt dropped to Rs 11,164 crore in July-September from Rs 15,227 crore a quarter ago, while finance costs declined by 31 per cent on-year in the quarter and 32 per cent year-on-year in the first six months of the financial year.