JSPL returns to black; posts Rs 267.58 cr net profit in Apr-Jun

Jindal Steel and Power Ltd (JSPL) swung into black, posting a consolidated net profit of Rs 267.58 crore for the first quarter ended June 30, helped by reduced expenses. JSPL's expenses during the quarter under review came down to Rs 8,880.69 crore from Rs 9,935.12 crore in April-June period of 2019-20.

Jindal Steel and Power Ltd (JSPL) swung into black, posting a consolidated net profit of Rs 267.58 crore for the first quarter ended June 30, helped by reduced expenses. The company had clocked Rs 87.40 crore consolidated net loss in the same quarter a year ago.

During April-June 2020, the company's total income declined to Rs 9,281.88 crore from Rs 9,945.58 crore in the year-ago quarter, JSPL said in a BSE filing on Wednesday. JSPL's expenses during the quarter under review came down to Rs 8,880.69 crore from Rs 9,935.12 crore in April-June period of 2019-20.