Jindal Steel and Power Q2FY24 PAT jumps to 1,390 cr
Mumbai: Jindal Steel and Power Ltd reported a substantial increase in Profit After Tax (PAT) to Rs 1,390.10 crore in the September quarter, primarily due to reduced expenses, the company reported in a regulatory filing.
In the corresponding period last year, the company recorded a PAT of Rs 219.27 crore, it said.
While the company's total income decreased from Rs 13,521.88 crore to Rs 12,282.04 crore compared to the previous year, its expenses also saw a decline from Rs 12,569.10 crore to Rs 10,897.52 crore.
In a separate announcement, JSP mentioned that they produced 1.90 million tonnes (MT) of steel in the July-September period, a slight increase from 1.82 MT in the same period the previous fiscal year. Sales, however, remained unchanged at 2.01 MT.
The Chirodzi mine in Mozambique reported a decrease in coal production, dropping from 1.16 MT last year to 1.11 MT. Meanwhile, in South Africa, JSP's Kiepersol mine saw an increase in production from 81 KT to 123 KT.
During the quarter, production at the Russel Vale mine in Australia fell to 101 KT from 150 KT. The Wongawilli colliery remains in a state of care and maintenance.
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