Jindal Steel and Power Q1 result: Profit grows to ₹1,456.54 crore

Jindal Steel and Power Ltd (JSPL) on Wednesday posted a 4 per cent increase in profit after tax to ₹1,456.54 crore during the June 2024 quarter, helped by higher income. It had clocked ₹1,399.52 crore profit after tax (PAT) for the period ended June 30, 2023, the company said in a regulatory filing.

Its total income rose to ₹12,865.35 crore from ₹12,324.57 crore in the April-June period of 2023-24 fiscal.

Expenses were ₹10,890.55 crore against ₹10,454.99 crore a year ago.

The company produced 2.05 million tonne (MT) from 2.04 MT in the year-ago quarter.

During the period under review, the company's sales rose to 2.09 MT over 1.84 MT in the June quarter of 2023-24.

The company also reduced its net debt to ₹10,462 crore at the end of the June 2024 quarter from ₹11,203 crore at the end of the March 2024 quarter. JSPL is among the country's top five steel manufacturing companies.