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Specialty products help Jindal Stainless post Rs 82-cr Sep-quarter profit

Total income during July-September fell to Rs 1,996.42 crore as against Rs 2,253.17 crore in the year-ago period.

Press Trust of India  |  New Delhi 

stainless steel
FILE PHOTO: An employee works among stainless steel sheets at a steel factory in Taiyuan, Shanxi province, China, September 2, 2015. (Photo: REUTERS)

Jindal Stainless (Hisar) reported over 33 per cent jump in standalone net profit to Rs 82.23 crore for the September quarter.

The company had posted a net profit of Rs 61.60 crore during the year-ago quarter, it said in a BSE filing.

Total income during July-September fell to Rs 1,996.42 crore as against Rs 2,253.17 crore in the year-ago period.

The company's expenses during the said period declined to Rs 1,873.96 crore as against Rs 2,152.42 crore in the same period last year.

"Company's specialty products division outperformed once again, catering to a wider international market. A responsive product-mix and consistent internal efficiencies helped us maintain our profitability, in spite of sluggish demand in some segments, dependence of fluctuating input market, and excessive imports from Indonesia," Jindal Stainless (Hisar) MD Abhyuday Jindal said.

Shares of Jindal Stainless (Hisar) settled at Rs 69.35 apiece, down 2.39 per cent over previous close.

First Published: Thu, November 14 2019. 18:45 IST
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