JSPL Profit Soars 4x to Rs 1,923 Cr in Q3 | Business News
Jan 31, 2024 18:29
Jindal Steel and Power Ltd (JSPL) reported a significant jump in consolidated profit for the December quarter, driven by reduced expenses. Read more.
New Delhi, Jan 31 (PTI) Steel maker Jindal Steel and Power Ltd (JSPL) on Wednesday posted close to a four-fold jump in consolidated profit to Rs 1,923 crore in the December quarter, aided by reduced expenses.
It had clocked a "total profit" of Rs 518.27 crore in the year-ago period, the company said in an exchange filing.
The company's total income fell to Rs 11,736.40 crore from Rs 12,469.50 crore in the year-ago quarter.
JSPL trimmed expenses to Rs 9,809.57 crore from Rs 11,028.27 crore in the October-December period of the last fiscal.
In a statement, JSPL Chairman Naveen Jindal said, "We achieved several important milestones during the quarter, which includes commissioning of the Utkal C thermal coal mines, state-of-the-art hot strip mill and International EPD certifications for Hot Rolled plates/coils and structural steel."
"This demonstrates both our commitment and capability to execute the capex plan which will surely make us one of the most cost efficient and eco-friendly steel companies in India.
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