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

The company has reported a consolidated quarterly profit after 14 loss-making quarters, it said in a statement

Jindal Steel & Power
Company's power business, Jindal Power Ltd, continues to generate cash profits which stood at Rs 1.67 billion in the reported quarter

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 ...