Jindal Stainless shares dropped nearly 5% after the company reported a 5.5% year-on-year (YoY) decline in consolidated net profit to ₹654.3 crore for the third quarter ending December 2024, down from ₹692.3 crore in the same period last year. Despite an 8.5% YoY revenue increase to ₹9,907.3 crore, the company faced margin pressures, with its EBITDA falling 3.1% YoY to ₹1,207.5 crore compared to ₹1,246.3 crore last year.
The EBITDA margin contracted to 12.2% in Q3 FY25, down from 13.7% in Q3 FY23, reflecting increased input costs and competitive pricing pressures.
For the nine-month period (9MFY25), Jindal Stainless posted a 13% YoY drop in net profit to ₹1,910 crore, down from ₹2,193 crore in the corresponding period last year. Revenue for the period remained flat at ₹29,114 crore compared to ₹29,108 crore in 9MFY24. EBITDA for the nine months stood at ₹3,606 crore, a 2% YoY decline from ₹3,669 crore.
As of 9:19 am the shares were trading at Rs 607 on NSE
Interim dividend announcement
The company declared an interim dividend of ₹1 per share (50% of the face value of ₹2 per share) for the financial year 2024-25, with the record date set for February 8, 2025. Dividend payments or dispatch of dividend warrants will be completed on or before February 27, 2025, the company confirmed.
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