India’s Jindal Steel and Power Limited (JSPL) has reported a consolidated net profit of INR 4.65 billion ($56.58 million) for the fourth quarter (January-March) of the fiscal year 2022-23, a decline of 70 percent year on year, according to a company statement on Wednesday, May 17.
The company has reported total earnings during the quarter at INR 137 billion ($1.66 billion), registering a decline of five percent year on year.
JSPL has reported production of 2.02 million mt during the fourth quarter, down two percent from the third quarter. Sales were reported at 2.03 million mt, up seven percent from the third quarter of the fiscal year.
The company’s total steel production during the entire fiscal year of 2022-23 came to 7.89 million mt, lower than the 8.01 million mt achieved in 2021-22.