Jindal Saw Q2 PAT up 170%

BS 200 SCORECARD

Jindal Saw has reported a profit after tax of Rs 27 crore for the second quarter ending March 31, 2005, up 170 per cent over the Rs 10 crore net profit reported for the same period last year.

Turnover jumped 266 per cent to Rs 704 crore (Rs 192 crore). The jump in the company's turnover and profits have been attributed to the commissioning of a new plant in Mundra to manufacture ductile iron pipes.

A release from the company said the outlook for the next two quarters of the financial year continues to be robust and the company is confident of sustaining its margins and profitability trend.

The company has recently undergone a process of restructuring by changing its name from Saw Pipes Ltd to Jindal Saw Ltd. The release added that following the restructuring exercise the company now operates four strategic business unit - SAW pipes, seamless tubes, DI (ductile iron) pipes and the US operations.