JSPL: 3 fold profit of Rs 2,584 crore, due to increased sales

JSPL, Jindal Steel and Power limited, a steel company based in New Delhi, India reported a nearly three times rise in combine net profit to Rs 2,584 crore during the September quarter, mainly on account of increased sales. JSPL year on year production increase to 1.93 million tonnes of steel and 1.80 million tonnes of pellets produced during the September quarter this year. The company sold 2.13 million tonnes of steel and 0.20 million tonnes of pellets, as opposed to 1.93 million tonnes and 0.73 million tonnes a year ago. The company is owned by Naveen Jindal, he’s an industrialist and also a Member of Parliament. With investments worth Rs 90,000 crore across the globe, JSPL is the leading company and has a significant presence in the steel, power and mining sectors. An year ago company’s net profit was Rs 897 crore. The total income of the company during the July-September quarter, Q3 rise from Rs 8,295 crore a year ago to Rs 13,615 crore. The company’s expenses also increased to Rs 10,109 crore against Rs 7,066 crore from last year.

Last month also JSPL reported it’s highest ever quarterly steel sales during July-September.

The company announced this on thier social media by reposting a tweet by Press Trust of India.

 

The Press Trust of India tweeted, “JSPL posts Rs 2,584 crore consolidated net profit in Q2 against Rs 897 crore a year ago.”