JSPL Pins Hopes on Better Earnings to Pare Debt by Q4Naveen Jindals flagship company JSPL is pinning its hopes on improvement in earnings in its steel and power businesses to pare its Rs 46,000-crore debt burden by the fourth quarter of this year.
We have put a single-minded focus on restructuring our debt. We expect to see more and more volumes coming from our newly commissioned steel plant at Angul and an improved performance in our power business, Ravi Uppal, group CEO of Jindal Steel and Power Ltd, told ET. This should help improve EBITDA (earnings before taxes, interest depreciation and amortisation) levels and help us repay some of our debt. Also, with softening of interest rates, we hope to reduce our outstanding obligations. …
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