Jindal SAW Limited Q5 PAT up by 84.23%
Jindal SAW Ltd., a total pipe solution company in the country, today announced the unaudited (standalone) financial results for the 5th Quarter ended March 31st, 2010. The company has closed the financial year 2009-2010 as at March 31st, 2010 with 5 quarters. The company has recorded all round improvements in margins and profitability The EBITDA is up by 56.05% to Rs. 288.01 Crores from Rs.184.56 Crores; PBT is higher by 83.47% at Rs. 236.91 Crores from Rs.129.13 Crores if compared with the previous quarter ended March 2009. The PAT is up by 84.23% at Rs.180.27 Crores from Rs. 97.85 Crores. Despite the net sales have been reported lower, the Company has been able to maintain its profitability as compared to the immediately preceding quarter ended December 31, 2009 due to
- execution of some better profitable margins orders in LSAW and Seamless segments
- The ductile iron segment in general performed better than expectations
- realization higher than the prevailing spot price of USD INR for exports receivables due to use of forward covers at better levels and simultaneously better pricing in payment of creditors for imported raw material and input costs
- payment of some creditors where material was imported in previous quarters and payment made in the current quarter at better than provided rate of USD INR.