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.

My Reads Logout