Jindal Steel and Power Q2 Results: Profit falls 38% to Rs 860 crore
quarter, on account of lower revenue. It had posted a net profit of Rs 1,390 crore for the period ended September 2023, the company said in a statement.
Gross income fell to Rs 13,025 crore from Rs 14,128 crore in the July-September period of 2023-24.
During the second quarter, the company's steel production increased to 1.97 million tonne (MT) from 1.90 MT in the same period a year ago. Sales were at 1.85 MT as against 2.01 MT.
The company said its net debt stood at Rs 12,464 crore as on September 30. The total capex for the quarter was Rs 2,642 crore, largely driven by the expansion projects at Angul.
As per an exchange filing, Wollongong Resources Pty Ltd Australia, a step-down subsidiary of the company, recorded net loss after tax at Rs 35.74 crore for the quarter.
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