Jindal Stainless Hisar Q4 profit jumps 64% to Rs 575 cr, income up

Net profit stood at Rs 350.65 crore in January-March 2020-21

AgenciesUpdated: Thursday, May 05, 2022, 05:42 PM IST
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The company's net profit stood at Rs 350.65 crore in January-March 2020-21, JSHL said in a BSE filing. / Representative image | Photo credit: IANS

Jindal Stainless Hisar Ltd (JSHL) on Thursday reported 64 percent jump in consolidated net profit at Rs 574.70 crore for the quarter ended March 31, 2022, mainly on account of increased income.

The company's net profit stood at Rs 350.65 crore in January-March 2020-21, JSHL said in a BSE filing.

Total income during the quarter under review rose to Rs 4,350.39 crore from Rs 3,128.80 crore in the year-ago period.

Total expenses were at Rs 3,813.29 crore against Rs 2,812.81 crore a year ago.

In a separate statement, JSHL said its net external debt stood at Rs 1,605 crore as on March 31, 2022.

The company recorded a robust quarter owing to new product development, quality improvement and capacity building for its value-added product portfolio, it said.

''We continue to enhance customer satisfaction and establish long-term mutually beneficial relations through world-class products, transparent policies, and improved services.

''We are also committed to creating opportunities for increased usage of stainless steel in varied applications by developing new grades and specialty stainless steel products for critical applications,'' JSHL MD Abhyuday Jindal said.

The company will continue its efforts to harness renewable energy and set up an infrastructure to effectively reduce carbon emissions, he said.

During the last quarter of 2021-22, JSHL's specialty products division (SPD) achieved highest ever total sales of blade steel and precision strips, with SPD's total sales increasing by 32 per cent in FY22 over FY21.

JSHL continued to augment new product development for the domestic market and delivered critical stainless steel grades for key non-coastal area applications, along with key domestic projects in the agriculture and nuclear sectors.

(With PTI inputs)

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