Jindal Stainless Steel Ltd (JSL) today posted over 237 per cent jump in its net profit to Rs 135 crore for the December quarter of the current fiscal. The company had clocked net profit of Rs 40 crore during the October-December quarter of last fiscal. Its total income also rose to Rs 2,999.69 crore in the third quarter of 2017-18, from Rs 2,261.22 crore in the year-ago period, JSL said in a BSE filing. JSL Vice-Chairman Abhyuday Jindal said: "JSL has consecutively generated better top-line growth throughout the current financial year.
We remain upbeat on high prospects of stainless steel demand in India arising from robust economic growth. We are already moving in the direction of import substitution though indigenous production. Subsidiaries of JSL, PT Jindal Stainless, Indonesia and Iber Jindal, Spain, also saw net revenue increase by 27 per cent and 61 per cent respectively in the quarter under review, over the year-ago period.