update

JSPL up 5% on strong operating margin in Q1

     Thursday on strong improvement in overall numbers in April-June quarter. Consolidated operating profit of the company jumped 25 percent year-on-year to Rs 1,629 crore and margin expanded by 400 basis points to 32.7 percent primarily driven by higher steel inventory liquidation that boasted steel sales during the quarter.
     Revenue grew 10 percent to Rs 4,978 crore in the quarter ended June 2014 compared to Rs 4,540 crore in same quarter last year while profit fell 15 percent year-on-year to Rs 418 crore on account of finance cost that doubled in the quarter gone by. managing director and group CEO Ravi Uppal says the company aims to sustain margins at the current levels.
     "We are very focused on net sales realization and volumes are also going to look up. Once the volumes go up, the cost of production is likely to go down further. So that will help us to sustain margins. We will also continue to try improving them as much from the present level. In Q2, we are increasing the level of production," he elaborates.