Jindal Steel & Power Q2 Live Results: Jindal Steel & Power reported its second quarter results on November 6, 2024, reporting a significant decline in revenue and profit. The company’s revenue fell 8.46% year-on-year, while profits fell 37.97%, sparking concerns from investors and analysts.

Compared to the previous quarter, Jindal Steel & Power faced a steeper decline, with revenue down 17.66% and profit down 35.76%. This slowdown signals potential challenges in the company’s operational performance and market conditions.

On a positive note, the company’s SG&A expenses saw a decline of 8.96% quarter-over-quarter and 11.15% year-over-year. However, this reduction was not enough to offset the overall decline in turnover and profit.

Operating income for the quarter also suffered, down 30.24% compared to the previous quarter and 10.57% year-on-year. This trend indicates pressures on the company’s profitability and operational efficiency.

Earnings per share (EPS) amounted to ₹8.49 for the second quarter, reflecting a decline of 38.52% year-on-year. Such a decline in EPS could influence investor sentiment and confidence going forward.

Despite the current challenges, Jindal Steel & Power returned 3.57% last week, a modest return of 0.87% over the past six months, and an impressive return of 27.24% since the start of the month. ‘year. These figures suggest that the company could still hold recovery potential.

Currently, Jindal Steel & Power has a market capitalization of ₹96,306.23 crores, with a 52-week high of ₹1,097 and a minimum of ₹621.6. This range indicates volatility in the stock price, potentially influenced by recent quarterly results.

As of November 7, 2024, out of 26 analysts covering Jindal Steel & Power, opinions are mixed. Two analysts have rated it a strong sell, two have rated it a sell, four have given a hold rating, while nine analysts recommend buying and nine others have given a strong buy rating. The consensus recommendation remains Buy, which suggests some analysts still see value in the stock despite recent performance.

Jindal Steel & Power Financials