India’s Jindal Steel and Power Limited (JSPL) has reported consolidated net profit of INR 9.33 billion ($111.73 million) in the fourth quarter (January-March) of the fiscal year 2023-24, marking a rise of 100 percent over the corresponding quarter of the previous fiscal year, according to a company statement on Tuesday, May 14.
The company reported consolidated revenues of INR 157.49 billion ($1.89 billion) during the quarter, almost unchanged year on year.
The company attributed its strong performance to various factors, including a reduction in raw material costs and a partly offsetting impact from lower net sales realisation (NSR) during the quarter.