Jindal Steel & Power Q2 net vaults 57 per cent to Rs478 crore

Jindal Steel & Power Ltd (JSPL) today reported a 56.77 per cent year-on-year increase in net profit for the quarter ended 30 September 2010, at Rs478.17 crore against a profit of Rs305 crore in the quarter ended 30 September 2009.

Total income of the company increased 43 per cent to Rs2,305.61 crore during the quarter ended 30 September 2010 from Rs1,618.7 crore in the similar quarter of the previous financial year, unaudited results released today showed.

JSPL has shown production growth across all major products. Sponge iron production rose 3 per cent to 311,474 tonnes from 310,349 tonnes while steel production rose 24 per cent to 562,530 tonnes from 454,256 tonnes in the previous year quarter.

Power generation rose 11 per cent to 780 million kWh during the quarter ended 30 September 2010 from 701 million kWh in the previous year quarter. 

The group posted a net profit of Rs894.24 crore during the quarter ended 30 September 2010 as compared with Rs808.36 crore in the quarter ended 30 September 2009. Total income increased to Rs3,085.83 crore during the quarter ended 30 September 2010 from Rs2,475.84 crore in the quarter ended 30 September 2009.