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Jindal Stainless Q4 profit jumps sharply

Jindal Stainless Q4 profit jumps sharply
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First Published: Mon, May 28 2007. 03 05 PM IST
Updated: Mon, May 28 2007. 03 05 PM IST
Mumbai: Jindal Stainless Ltd’s profit for the fourth quarter ended 31 March almost tripled after the company boosted output to meet higher demand.
The company said profit for the period jumped to Rs92.12 crore from Rs32.7 crore a year earlier.
Yearly profit for FY 2006-07 more than doubled to Rs353 crore.
With nickel prices remaining firm, the company also forecast a 20-30% rise in net profit for the current financial year.
“Going by the past year’s experience, if nickel prices remain firm we can see 20-30% gorwth in the bottomline,” managing director Ratan Jindal said after announcing the results.
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First Published: Mon, May 28 2007. 03 05 PM IST