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Jindal Stainless’ March Quarter Profit Sees 156% Jump

Jindal Stainless Ltd posted a 156 per cent bounce in consolidated web revenue for March quarter

New Delhi:

Jindal Stainless Ltd (JSL) on Monday posted a 156 per cent bounce in consolidated web revenue at Rs 749.88 crore for the March quarter, primarily on account of upper revenue.

Within the year-ago quarter, its web revenue stood at Rs 292.61 crore, the corporate mentioned in a regulatory submitting.

Complete revenue in January-March 2022 rose to Rs 6,582.84 crore, from Rs 3,926.30 crore in the identical quarter of 2020-21.

Complete bills have been at Rs 5,885.19 crore through the quarter below overview, in comparison with Rs 3,564.82 crore earlier.

In a separate assertion, JSL mentioned it has maintained a powerful efficiency on the again of adaptive methods in provide chain and product basket administration.

“Regardless of volatility and world disruptions in uncooked materials provide and logistics, the corporate successfully doubled its exports gross sales proportion to 32 per cent of whole gross sales volumes in This fall FY22 as in comparison with 16 per cent Q4FY21, with a eager give attention to the value-added product segments,” it mentioned.

The continued Russia-Ukraine unrest adversely impacted the worldwide provide chain and commodity costs. Whereas on the home entrance, the Chinese language and Indonesian imports of backed chrome steel merchandise continued to disrupt the Indian market, the assertion mentioned.

It’s estimated that imports from China and Indonesia rose by 147 per cent and 280 per cent respectively in FY22 over the corresponding interval final yr.

JSL’s managing director Abhyuday Jindal mentioned, “JSL’s strategic choice to give attention to export gross sales and strengthen its area of interest worth added product portfolio resulted in a sturdy efficiency. This additionally enabled the corporate to steer by way of sure difficult segments within the home market that confronted backed imports from China and Indonesia.”

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