Jindal Saw profit rises 24 pc to Rs 71 cr in Jan-Mar

Pipe products maker Jindal Saw today reported 24.6 per cent rise in standalone net profit at Rs 71.10 crore for the quarter ended March 31, 2015, on the back of higher income from operations.
The company's net profit in the year-ago period was Rs 57.06 crore, Jindal Saw said in a filing to BSE.
Total income from operations of the company increased to Rs 2,083.44 crore in the quarter under review, over Rs 1,363.58 crore in the same quarter of 2013-14, it said.
Total expenses of the company went up to Rs 1,882.73 crore during the period, over Rs 1,263.11 crore in the year-ago period.

Jindal Saw, a diversified manufacturer and supplier of pipe products, said it witnessed improvement in production in sales in 2014-15 and it expects further improvements in subsequent quarters in gradual manner.
It said that it is also focusing on various measures to further improve productivity, efficiency and profitability.
On the outlook, it said, "We are experiencing gradual improvement in demand and its major drivers in medium to long-term .... Despite the prevailing conditions, potential opportunities are expected primarily from the implementation of new pipeline projects in the coming years, resurgent growth of the US economy, and increased demand from natural gas exploration operations.