Jindal Stainless Sees 32% Profit Surge Amid Rising Demand

Jindal Stainless reported a 32% increase in net profit to Rs 808 crore in the September quarter, driven by a rise in sales. The company's revenue rose 12% as sales grew by 15%. Despite competition from imports, Jindal maintained its market share, focusing on high-strength steel and green hydrogen projects.

Jindal Stainless has recorded an impressive 32% surge in consolidated net profit for the September quarter, hitting Rs 808 crore. This growth is attributed to a significant increase in sales, as confirmed by the company in a recent statement.

The firm saw its income rise 12%, reaching Rs 10,982.46 crore, compared to the prior year's Rs 9,823.88 crore for the same period. Sales volume also climbed approximately 15% year-on-year, highlighting strong demand across various sectors including industrial piping and metro railway coaches.

Abhyuday Jindal, Managing Director, noted the company's strategic approach to maintaining market share through competitive pricing and enhanced services. However, he raised concerns about the rising challenges from imports, particularly those from China and Vietnam, which are impacting the market dynamics negatively for Indian manufacturers.

(With inputs from agencies.)