JSL profit increases to Rs 5,682.37 crore in Dec quarter

09 Feb 2022 CW Team

On Monday Jindal Stainless Limited (JSL) said that their consolidated profit for the December quarter increased almost three times to Rs 441.78 crore.

In a filing to Bombay stock exchange (BSE), the steel company mentioned that in a period of one year, the company had recorded a profit of Rs 170.20 crore.

The company’s income in the third quarter increased from Rs 3,592.04 crore to Rs 5,682.37 crore in the year-ago period.

JSL has continued the registration of profitable growth via harnessing export markets as well as maintenance of total sales level on a yearly basis.

The statement further said that the company was agile and responsive to their customers’ needs with help of a sharp product mix that was accustomed to the demands.

JSL Managing Director, Abhyuday Jindal said that an intelligent product mix along with the agility to upgrade exports assisted JSL to maintain profitability irrespective of the stiff and unfair competition from Chinese and Indonesian imports.

He added that they are always looking for new application methods for stainless steel which keep them ahead of their competition and increase their share in domestic as well as export markets. A sharp focus on the financial prudence and solid operational fundamentals served them well, and they shall continue to strategise business in alignment with market dynamics," he added.

The board has given the approval to raise to Rs 3,500 crore via issuance of debt securities.

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Also read: 2,000-tonne stainless steel by JSL for Kanpur Metro Project

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