Jindal Steel posts profit of Rs 1.1 bn in June quarter on higher revenues

Naveen Jindal-led Jindal Steel & Power swung to profits at Rs 1.10 billion in the June quarter on the back of higher revenues even as expenses mounted considerably on a year-on-year basis.

The company had reported a consolidated net loss of Rs 4.20 billion in the corresponding period last year. The company has reported a consolidated quarterly profit after 14 loss-making quarters, it said in a statement. Net sales of the Delhi-based steel producer stood at Rs 96.02 billion in the period under review, up 34 per cent from the same period last year on better realisations. 

“The outcome of