Jindal Saw was awarded a contract for carrying out the repair and maintenance of manufacturing facilities of Sathavahana Ispat by Resolution Professional under appointed under the Insolvency and Bankruptcy Code, 2016.
On a consolidated basis, Jindal Saw reported a net profit of Rs 145.74 crore in Q1 FY22 as compared to a net loss of Rs 26.57 crore in Q1 FY21. Net sales surged 75.8% to Rs 2,884.60 crore in Q1 FY22 over Q1 FY21.
Shares of Jindal Saw slipped 1.10% to Rs 117.35 on BSE. Jindal Saw manufactures submerged arc welded (SAW) pipes and spiral pipes for the energy transportation sector, carbon, alloy and seamless pipes and tubes for industrial applications, and ductile iron (DI) pipes and fittings for water and wastewater transportation.
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