Jai Balaji Q3FY25 net profit drops 48pc to Rs 120cr

Kolkata, Feb 11 (PTI) Jai Balaji Industries Ltd on Tuesday reported a 48.7 per cent decline in net profit to Rs 120.42 crore for the quarter ending December 2024, due to lower production volumes and subdued realisations in certain steel products.

The company had posted a net profit of Rs 234.60 crore in the same quarter last year.

Revenue from operations fell 3.42 per cent year-on-year to Rs 1,486.39 crore in Q3 FY25 from Rs 1,538.99 crore in the year-ago period.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 23.05 per cent to Rs 189.90 crore, with margins contracting to 12.77 per cent from 16 per cent.

Jai Balaji’s diluted earnings per share (EPS) stood at Rs 1.32, down from Rs 2.64 in Q3 FY24.

Whole-time Director and CFO Sanjiv Jajodia attributed the decline to global macroeconomic pressures but remained optimistic about the company’s strategic investments in value-added products such as ductile iron pipes and ferroalloys.

He said the ongoing Rs 1,000 crore capital expenditure plan remains on track to boost production of high-margin offerings.

The company recently executed a 1:5 stock split, reducing the face value of shares from Rs 10 to Rs 2, effective January 17, 2025, to enhance stock liquidity.

Despite the challenges in Q3, Jai Balaji Industries expects improved demand for value-added products and operational efficiencies to support earnings recovery in the coming quarters. PTI BSM NN

Source: PTI