 "JSPL posts multifold jump in net profit to Rs 2,516 cr in June quarter")
Jindal Steel and Power (JSPL) on Tuesday said its consolidated net profit “after tax from continuing operation” jumped over 10 times to Rs 2,516 crore during the June 2021 quarter. The comparable net profit during the April-June 2020 quarter had stood at Rs 236 crore, JSPL said in a regulatory filing.
Its total income in April-June 2021 also jumped to Rs 10,643.17 crore, from Rs 6,519.27 crore in the year-ago period. Total expenses stood at Rs 7,233.55 crore, higher as compared with Rs 6,147.90 crore a year ago.
JSPL said that during the June 2021 quarter, it produced 2.01 million tonne (MT) steel; higher from 1.67 MT in April-June of the preceding fiscal year.
"Continued cash generation, declining finance cost, lower capex and debt associated with JPL (Jindal Power Ltd) moving out of JSPL's consolidated books have all contributed to continued deleveraging in Q1FY22.
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