JSPL posts ₹2,567-cr profit in Q3 on higher pent-up demand
January 21, 2021
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The pent-up demand arising post the unlocking of the economy and hardening steel prices has aided Jindal Steel and Power Ltd (JSPL) in reporting consolidated net profit of ₹2,567 crore in the third quarter ended December 31, 2020 as compared to a net loss of ₹219 crore in the same quarter last fiscal.
The company’s decision to keep operating the plant even during Covid-19 times bolstered the bottomline, a top company official said.
The consolidated net revenue in December quarter stood at ₹10,534 crore, registering year-on-year growth of about 40 per cent. The firm’s standalone production of steel, including pig iron, rose to 1.93 million tonnes in the December quarter, a year-on-year growth of about 20 per cent. This is the highest ever standalone steel production volume for the firm.