Jindal Stainless Navigates Steel Price Slump with Strategic Moves

Jindal Stainless Ltd reported a 5% fall in net profit, attributed to declining stainless steel prices and cheap imports. Despite challenges, the company achieved a 15% increase in sales volume. JSL's board approved an interim dividend and announced new initiatives to counter industry challenges.

Jindal Stainless Ltd (JSL) reported a slight dip in consolidated net profit by over 5% to Rs 654.27 crore for the December quarter, primarily due to faltering global stainless steel prices.

The company's profits had stood at Rs 691.22 crore during the corresponding period of the previous fiscal year, as per a regulatory filing.

JSL has approved an interim dividend and is adapting to market adversities by increasing sales volumes despite ongoing global price pressures.

(With inputs from agencies.)