JSPL shares zoom nearly 14 pc after strong Q4 results

Shares of Jindal Steel and Power Ltd (JSPL) on Tuesday rallied nearly 14 per cent after the company reported a consolidated net profit of Rs 305.62 crore during the quarter ended on March 31, 2020. The stock advanced 13.38 per cent to close at Rs 109.30 on the BSE. During the day, it zoomed 14.93 per cent to Rs 110.80.

On the NSE, it jumped 13.81 per cent to settle at Rs 109.95. In terms of volume, 27.08 lakh shares were traded on the BSE and 5.75 crore on the NSE.

JSPL on Monday reported a consolidated net profit of Rs 305.62 crore during the quarter ended on March 31, 2020. The company had posted a net loss of Rs 2,713.34 crore in the year-ago quarter, JSPL said in a BSE filing.

However, its total income during the quarter under review was lower at Rs 8,835.23 crore as against Rs 10,158.95 crore in the same period year ago. Total expenses stood at Rs 8,355.48 crore in March 2020 quarter as compared to Rs 11,850.61 crore in the corresponding period of the preceding fiscal.