JSPL clocks Rs 110 cr profit in April-June qtr

Private steel maker JSPL today reported Rs 109.89 crore consolidated net profit for the quarter ended June 30, 2018.

The company had incurred Rs 421.43 crore loss during the same quarter a year ago, Jindal Steel and Power Ltd (JSPL) said in a BSE filing.

Total income during April-June 2018 rose to Rs 9,665.35 crore from Rs 6,126.61 crore in the year-ago-period.

Total expenses were at Rs 9,401.68 crore, higher from Rs 6,636.71 crore in the year-ago period.

On standalone basis, the company clocked a profit of Rs 332.24 crore in the reported quarter. It posted a loss of Rs 177.73 crore in the year-ago period.

The company said its crude steel output during the said period grew 30 per cent to 1.65 million tonne (MT) from 1.27 MT in June quarter of 2017-18.

The sales at 1.61 MT were 40 per cent up from 1.15 MT in April-June 2017, JSPL said.

In Oman, its subsidiary Jindal Shadeed produced 0.43 MT crude steel as against 0.36 MT in the year-ago period.

Part of the USD 18 billion OP Jindal Group, JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.

Shares of the company today ended 0.09 per cent up at Rs 217 apiece on BSE.