Jindal Steel and Power Ltd’s Q2 net up 57 percent

New Delhi, Oct 26 (Calcutta Tube) Steel major Jindal Steel and Power Ltd Tuesday reported an increase of 57 percent in its net profit for the quarter ended Sep 30, which stood at Rs.478.17 crore as against Rs.305.01 crore in the like period of 2009.

The company’s net sales also increased by 43 percent to reach Rs.2,295.47 crore as compared to Rs.1,608.54 crore in the previous year’s corresponding period.

The consolidated result of the company jumped by 11 percent and stood at Rs.894.24 crore in the second quarter as against Rs.808.36 crore in the second quarter of 2009.

According to the company, its consolidated net sales were also up by 25 percent at Rs.3,077.95 crore, from Rs.2,455.58 crore for the quarter ended Sep 30, 2009.

The company also said that growth has been seen in production of sponge iron, steel products and electrical power generation.

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