Jindal SAW Q2 net up 14% to Rs 61 cr

Net sales of the company were up over 13% to Rs 1,635.21 during the quarter

Jindal SAW today reported 13.73% jump in net profit at Rs 61.11 crore for the second quarter ended September 30, largely on increased revenues.

The leading SAW (submerged arc welded) pipe-maker had reported a net profit of Rs 53.73 crore during the corresponding quarter of the previous fiscal.

Net sales of the company was up over 13% to Rs 1,635.21 during the quarter vis-a-vis Rs 1,445.96 crore of the July-September period of FY 12, it said in a BSE filing.

The company further said that its total expenses was up over 13% to Rs 1,480.64 crore in the last quarter, while its finance outgo got doubled to Rs 37.67 crore.

 

Besides, Jindal SAW incurred a forex loss of Rs 57.74 crore due to volatility in the dollar-rupee exchange rate during the quarter.

Shares of the company closed today at Rs 113 apiece on the BSE, up 1.39% from their previous close.