Jindal Steel and Power Limited (JSPL) has recorded a 28.2% increase in its net profit which is at Rs 494.2 crore for the quarter ended June 30, 2013. JSPL, a company owned by Naveen Jindal is one of India’s giant steel industries with a noteworthy existence in sectors like Mining, Power Generation and Infrastructure. The total net profit of the company for the same quarter period last year was Rs 385.3 crore.
However, the net sales of the company for the quarter ended June 30, 2013, was recorded a slight decrease of 4% and was at Rs 4,490 crore. Whereas, the net sales for the same period last year was Rs 4,680.4 crore. In the meantime, the company was able to record high profits for the April-June quarter because of the income it gained from other sources which went up to 135% and was at Rs 49.4 crore. Whilst, the income from other sources for the same period last year was recorded to be at Rs 21.06 crore.
Total income of the steel producer, from its operations was recorded to have dropped down to Rs 4,540.2 crore for the quarter ended June 30, 2013, which was at Rs 4,701.4 crore in the same period last year.
The total expenses of the company for the quarter ended June 30, 2013 was 5.6% up at Rs 3,656.7 crore in comparison to the expense of Rs 3,461 crore in the same period last year.
However, in an individual level, the total net profit of the company recorded for the April-June quarter of FY 14 was at Rs 238.8 crore as compared to Rs 12.4 crore of income during the same period last fiscal.