Jindal Stainless profit rises 2-fold to Rs 81 crore in September quarter
Jindal added that aligned with the market needs, the company kept innovating and expanding its product basket to cater to customers in auto and railway segments.
October 30, 2020 / 09:58 PM IST
Jindal Stainless Ltd (JSL) on October 30 reported a two-fold jump in its consolidated profit at Rs 80.64 crore for the quarter ended September 30. The company had posted a consolidated profit of Rs 39.52 crore in the year-ago period, Jindal Stainless Ltd said in a BSE filing.
Its consolidated income during July-September increased to Rs 3,325.15 crore, compared with Rs 3,298.14 crore in the year-ago period, the filing said. "A better-than-expected rebound in business sentiment, coupled with JSL's agile response in manufacturing and supply chain adjustments, led to improved financial and operational performance in the second quarter," the company's Managing Director Abhyuday Jindal said.
He added that aligned with the market needs, the company kept innovating and expanding its product basket to cater to customers in auto and railway segments. "Going forward, we expect higher brand penetration in sub-urban markets through strategic partnerships via co-branded products."
The company's board also approved to constitute a committee to explore and evaluate various options of reorganisation or consolidation of its stainless steel businesses and of other group entities, the company said in a statement.