OPEN APP
Home >Companies >Company-results >Jindal Steel and Power posts profit after 14 quarters
Jindal Steel and Power’s steel sales rose 40% in the quarter to 1.61 million tonnes. Photo: Bloomberg
Jindal Steel and Power’s steel sales rose 40% in the quarter to 1.61 million tonnes. Photo: Bloomberg

Jindal Steel and Power posts profit after 14 quarters

JSPL's net profit was 181 crore in the first quarter ended 30 June, compared with a loss of 387 crore a year ago

Bengaluru: India’s Jindal Steel and Power Ltd posted its first profit in 15 quarters on Thursday and beat analysts’ estimates, helped by higher iron and steel sales.

Net profit was 181 crore ($26.37 million) in the quarter ended 30 June, compared with a loss of 387 crore a year ago. Analysts were expecting a profit of 133 crore, according to Thomson Reuters I/B/E/S.

Jindal Steel and Power’s steel sales rose 40% in the quarter to 1.61 million tonnes, the company said.

While global growth outlook for steel remained robust, the US-China trade spat poses some risk, the company added.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout