Jindal Stainless today reported a 23% decline in net profit at Rs 50.79 crore for the first quarter ended June 30, 2006 when compared with Rs 66.10 crore in Q1FY06.According to a release issued by Jindal to the BSE today, total income declined to Rs 859.82 crore from Rs 860.25 crore in Q1FY06.The board of directors, which met today, has decided to refer the matter about the feasibility of hiving off the Orissa division of the company into a subsidiary unit to consultants.
