Jindal Stainless Q3 Profit Drops 5% to Rs 654.27 cr

New Delhi, Jan 29 (PTI) Jindal Stainless Ltd (JSL) on Wednesday posted an over 5 per cent fall in its consolidated net profit to Rs 654.27 crore during the December quarter due to increased expenses.

Its net profit was at Rs 691.22 crore during the October-December period of the preceding 2023-24 fiscal, the company said in a regulatory filing.

The company's total income was however higher at Rs 10,006.41 crore in the latest third quarter as against Rs 9,166.42 crore in the year-ago quarter.

Expenses increased to Rs 9,101.90 crore during the period under review, from Rs 8,262.66 crore a year ago.

The company said its board has approved an interim dividend of Re 1 per equity share (face value of Rs 2 per equity share) for the financial year 2024-25.

The dividend has been approved for shareholders listed in the records of the depositories "as on Saturday, February 8, 2025, the record date fixed for the purpose", the company said.

The payment of interim dividend will be completed on or before February 27, it said.