Consolidated Q2 net profit falls 26%; CEO appointed and adjusted EBITDA declines
JINDALSTEL · price
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The board approved Q2 results and appointed Gautam Malhotra as CEO. Consolidated gross revenue was Rs 13,505 crore and net profit Rs 635 crore, down 26% year on year. Adjusted EBITDA fell 12% to Rs 1,875 crore after excluding a Rs 206 crore one-off currency gain. H1 net revenue slipped 3%. Net debt was Rs 14,156 crore, or 1.48 times EBITDA. Auditors said two overseas units may need support to continue; the review conclusion was not modified.
Weaker Q2 profit and margins weigh on sentiment, while a currency gain flattered results. Net debt and overseas unit risks remain concerns.