Jindal Power and Steel reported net loss of Rs 426 crore

Mumbai, May 9: Jindal Power and Steel (JSPL) on Wednesday reported a consolidated net loss of Rs 426 crore for the quarter ended March 31, 2018 due to expenses incurred on a one-time exceptional item.

The company had reported a net loss of Rs 98 crore during the corresponding period of the previous year.

According to the company, its turnover for the quarter ended March 31, 2018 increased by 27 percent to Rs 8,599 crore from Rs 6,756 crore for Q4 of the previous year.

"JSPL produced 1.72 million tonnes on the consolidated level (up 32 percent from 1.30 million tonnes in 4QFY17) and sold 1.66 million tonnes (up 27 percent from 1.31 million tonnes in 4QFY17)," the company said in a statement.

"JSPL reported consolidated revenues of Rs 8,599 crore (up 27 per cent YoY) while consolidated EBITDA increased to Rs 2,136 crore from Rs 1,552 crore (in 4QFY17), up 38 percent YoY."