Jai Balaji Q4 results: Steel-maker posts Rs 273 net profit, total income up by 15%

Jai Balaji Industries Ltd (JBIL), a city-based steel product company, on Thursday said it posted a standalone net profit of Rs 273 crore for the fourth quarter ended March 2024 against a loss of Rs 13 crore in the corresponding period last year.

Total income grew by 15 per cent YoY to Rs 2002 crore in Q4 FY24. EBIDTA stood at Rs 397 crore during the quarter under review with a margin of 20 per cent, the company said in a statement. The PAT for the financial year 2023-24 was Rs 880 crore, an increase of 1421 per cent YoY jump over FY'23.

"Our strategic focus remains on specialised products such as DI Pipes and Special-grade Ferro Alloys, which presently contribute to around 50 per cent to our revenue and the increase in sales will help in achieving higher growth in forthcoming quarters. We take pride in being India's largest recognized producer of special-grade ferro alloys wherein substantial share comes from exports," CMD Aditya Jagodia said.