JSPL slips into black, posts Rs 306 cr profit in Q4
Jindal Steel and Power Ltd (JSPL) on Monday reported a consolidated net profit of Rs 305.62 crore during the quarter ended March 31, 2020.
The company had posted a net loss of Rs 2,713.34 crore in the year-ago quarter, JSPL said in a BSE filing.
However, its total income during the quarter under review was lower at Rs 8,835.23 crore as against Rs 10,158.95 crore in the same period a year ago.
Total expenses stood at Rs 8,355.48 crore in March 2020 quarter as compared with Rs 11,850.61 crore in the corresponding period of the preceding fiscal.
In a separate statement, the company said it produced 2.11 million tonnes (MT) of steel, including pig iron, in January-March 2020, up 5 per cent from 2.01 MT in the year-ago quarter.
It sold 1.93 MT steel during the quarter as compared with 1.98 MT in the year-ago period.
On impact of COVID-19, JSPL said "it has been nimble and agile in these uncertain times, changing its business model to market and sell its steel products in overseas markets more than domestic markets."
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