Jindal Stainless Hisar Q4 net profit jumps 59 pc to Rs 96 cr

Jindal Stainless Hisar Ltd (JSHL) today reported 59 per cent jump in its standalone net profit to Rs 96.11 crore for the the quarter ended March 31, 2018.

The company's standalone net profit stood at Rs 60.43 crore in the January-March quarter of the previous fiscal, 2016-17, JSHL said in a BSE filing.

However, the company which gave full year's consolidated figures did not provide the consolidated figures for the quarter under review.

Its total standalone income during the quarter rose marginally to Rs 2,282.22 crore, from Rs 2,257.73 crore in the year-ago-period.

JSHL's total expenses fell by 2 per cent to Rs 2,127.84 crore, over Rs 2,176.21 crore a year ago.

For the year ended March 31, the company's standalone net profit was at Rs 395.70 crore, up 81 per cent from Rs 218.02 crore in the preceding financial year.

"Our growth in FY18 came from better capacity utilisation in cold rolled segment and higher share of speciality products. Our exports have been consistent in FY18. We will now focus on increased return from speciality products by expanding capacities, adding value at each step of the chain, and upgrading processes by harnessing new technology," said company's Managing Director Abhyuday Jindal.

JSHL is also making efforts to expand its reach in the long products market, he said.

Shares of the company today ended 1.79 per cent down at Rs 186.35 apiece on BSE.