Jindal Steel Profit Jumps 4% to Rs 1,456 cr in Q1 FY25
Jul 24, 2024 19:54
Jindal Steel and Power Ltd (JSPL) reported a 4% rise in profit after tax to Rs 1,456.54 crore in the June 2024 quarter, driven by higher income and increased sales. The company also reduced its net debt.
New Delhi, Jul 24 (PTI) Jindal Steel and Power Ltd (JSPL) on Wednesday posted a 4 per cent increase in profit after tax to Rs 1,456.54 crore during the June 2024 quarter, helped by higher income.
It had clocked Rs 1,399.52 crore profit after tax (PAT) for the period ended June 30, 2023, the company said in a regulatory filing.
Its total income rose to Rs 12,865.35 crore from Rs 12,324.57 crore in the April-June period of 2023-24 fiscal.
Expenses were Rs 10,890.55 crore against Rs 10,454.99 crore a year ago.
The company produced 2.05 million tonne (MT) from 2.04 MT in the year-ago quarter.
During the period under review, the company's sales rose to 2.09 MT over 1.84 MT in the June quarter of 2023-24.
The company also reduced its net debt to Rs 10,462 crore at the end of the June 2024 quarter from Rs 11,203 crore at the end of the March 2024 quarter.
JSPL is among the country's top five steel manufacturing companies.
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