Jindal Stainless net loss narrows to Rs 17 cr in Jan-Mar

Steel maker Jindal Stainless today said its standalone net loss narrowed to Rs 17 crore for the March quarter, as against Rs 202.5 crore in the year-ago period.
The Rattan Jindal-led firm's total standalone income rose by 7 per cent to Rs 3,287.39 crore in January-March quarter of last fiscal from Rs 3,068.05 crore in the same quarter of 2013-14 fiscal, it said in a BSE filing.
During the quarter, the firm achieved stainless steel melting production of grew by 2 per cent to 2.99 lakh tonnes and sales rose by 8 per cent 2.81 lakh tonnes compared to the same quarter in 2013-14, it said in a statement.

For the entire 2014-15, Jindal Stainless' standalone net loss stood at Rs 724.75 crore against Rs 1,390.09 crore in 2013-14.
Total standalone income rose by 7 per cent to Rs 12,802.47 crore from Rs 11,946.98 crore during the same period.
During 2014-15, the company has achieved stainless steel sales volume of 1.057 million tonnes, which is 3 per cent higher compared to previous year.
Going ahead, the firm said: "Being optimistic with respect to future, the international economic scenario continues to carry indicators of exercising caution. Commodity price of nickel continues to remain range bound and domestic market is showing signs of some improvement in consumer/ industrial demand.