Jai Balaji Industries Ltd. Announces Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended December 31, 2012
February 12, 2013 at 09:12 am EST
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Jai Balaji Industries Ltd. announced unaudited standalone earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales/income from operations of INR 4,904.190 million against INR 5,838.523 million a year ago. Loss from operations before other income, finance cost and exceptional items was INR 697.988 million against INR 415.711 million a year ago. Loss from ordinary activities before tax was INR 1,152.663 million against INR 1,041.849 million a year ago. Net loss for the period was INR 701.909 million or INR 11.01 per basic and diluted share against INR 702.549 million or INR 11.02 per basic and diluted share a year ago.
For the six months, the company reported net sales/income from operations of INR 10,138.785 million against INR 12,256.141 million a year ago. Loss from operations before other income, finance cost and exceptional items was INR 1,222.547 million against INR 424.462 million a year ago. Loss from ordinary activities before tax was INR 2,246.634 million against INR 1,617.349 million a year ago. Net loss for the period was INR 1,496.677 million or INR 23.47 per basic and diluted share against INR 1,232.344 million or INR 19.33 per basic and diluted share a year ago.
Jai Balaji Industries Limited is engaged in the business of manufacturing of iron and steel products. The Companyâs products include sponge iron, pig iron, ductile iron pipe, ferro chrome, billet, thermo mechanically treated (TMT), coke and sinter with captive power plant. It has eight integrated steel manufacturing units spread across India in the states of West Bengal, Chhattisgarh, Orissa and Jharkhand, and a diverse portfolio of value-added products, including DRI (Sponge iron), Pig iron, Ferro Alloys, Alloy and Mild Steel Billets, Reinforcement Steel TMT Bars, Wire Rods, Ductile Iron Pipes, and Alloy and Mild Steel Heavy Rounds, with a combined capacity of 27,40,000 plus tons per annum. The Company's actual production capabilities include approximately 4,45,000 tons per annum of direct reduced iron (DRI); over 509,250 tons per annum of pig iron; approximately 106,000 tons per annum of ferro alloys, and over 10,20,430 tons per annum of alloy and MS billets.
JAI BALAJI INDUSTRIES LIMITED 
