Quarterly revenue and profit rise; tax write-back lifts standalone profit
JSL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.2 pts less than Nifty Midcap 150 and 0.3 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 standalone revenue rose 5% to Rs 11,413 crore and net profit rose 22% to Rs 786 crore. Consolidated revenue rose 18% to Rs 12,874 crore and net profit rose 11% to Rs 898 crore; half-year net profit rose 9% to Rs 1,666 crore. A Rs 95.63 crore tax write-back and Rs 20.86 crore loan write-off produced a Rs 74.77 crore exceptional gain. Reviews were unmodified. Board approved merging four subsidiaries, subject to approvals.
Profit rose, but the standalone gain relied on a one-time tax write-back. Consolidated operating margin fell, so the stock impact may be mixed.