Jindal Stainless Q2 Profit Drops 20% to Rs 609.42 cr | Business News
Oct 17, 2024 15:59
Jindal Stainless' net profit fell 20% to Rs 609.42 crore in the September quarter due to rising input costs. The company's total income also declined.
New Delhi, Oct 17 (PTI) Jindal Stainless Ltd (JSL) on Thursday reported a 20 per cent fall in consolidated net profit at Rs 609.42 crore during the quarter ended September 30, 2024 due to increased input costs.
It had posted a net profit of Rs 764.03 crore in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing.
The company's total income fell to Rs 9,823.88 crore in the quarter under review, from Rs 9,828.97 crore in the same quarter a year ago.
The expenses increased to Rs 8,989.83 crore in the July-September quarter, from Rs 8,944.04 crore in the second quarter of the last fiscal year.
The cost of materials consumed by the company surged to Rs 6,759.95 crore, from Rs 6,024.01 crore in the year-ago period.
Jindal Stainless is India's largest stainless steel producer.
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