JSHL net profit falls 27 pc to Rs 105 cr in June quarter

Jindal Stainless (Hisar) Ltd (JSHL) on Thursday said its consolidated net profit fell 27 per cent to Rs 105.29 crore during the quarter ended June 30.

The company had clocked a Rs 144.43-crore net profit during the corresponding period a year ago, JSHL said in a BSE filing.

Its total income fell to Rs 2,398.67 crore, compared with Rs 2,502.54 crore in the June 2018 quarter.

The firm's total expenses were down at Rs 2,274.97 crore during the April-June 2019 period, compared with Rs 2,342.94 crore in the year-ago period.

In a separate statement, JSHL Managing Director Abhyuday Jindal, said, "We had a stable first quarter, as we continued to leverage our strong operational capabilities, including our specialty products division. Our sustained focus on enhancing revenue through new application development and strengthening our product portfolio for domestic markets will eventually shape our long-term growth.

However, unstable raw material prices amid global trade tensions and high quantum of unwarranted imports from Indonesia, Vietnam, and other countries remain a challenge for the domestic industry, he said.