JSPL Posts 4% Profit Increase Amid Higher Income in June 2024 Quarter

Jindal Steel and Power Ltd (JSPL) reported a 4% rise in profit after tax for the June 2024 quarter, reaching Rs 1,456.54 crore. The company's total income increased to Rs 12,865.35 crore, and sales grew to 2.09 million tonnes. JSPL also reduced its net debt during this period.

Jindal Steel and Power Ltd (JSPL) recorded a 4% increase in profit after tax, amounting to Rs 1,456.54 crore for the June 2024 quarter, supported by higher income.

The company reported a profit of Rs 1,399.52 crore after tax for the same period last year, as outlined in a regulatory filing.

JSPL's total income climbed to Rs 12,865.35 crore, up from Rs 12,324.57 crore for the April-June quarter of the 2023-24 fiscal year. The company reported expenses of Rs 10,890.55 crore compared to Rs 10,454.99 crore a year ago.

In terms of production, JSPL achieved 2.05 million tonnes (MT) compared to 2.04 MT in the previous year's quarter. Sales figures also increased to 2.09 MT from 1.84 MT in the June 2023-24 quarter.

Additionally, the company successfully reduced its net debt to Rs 10,462 crore by the end of June 2024, down from Rs 11,203 crore at the end of March 2024. JSPL ranks among the top five steel manufacturing firms in the nation.