Jindal Steel net profit soars 100% in Q4

(20 second reading) Jindal Steel & Power’s consolidated net profit zoomed 100.5% in the March 2024 quarter. Profit rose to Rs 933.5 crore in the last quarter against a profit of Rs 466 crore in the Q4 of FY23. Profit in the reporting quarter was affected by an exceptional loss of Rs 153.5 crore. Revenue from operations fell 1.5 percent on-year to Rs 13,487 crore for the quarter.
Revenue rose 15 percent on a sequential basis and profit fell 52 percent from Rs 1,928 crore reported in Q3FY24.
The stock has gained 63.68 per cent in one year. JSPL shares have delivered multibagger returns of 507% in the last five years.