India’s Jindal Stainless Limited (JSL) has reported a net profit of INR 6.48 billion ($77.42 million) for the first quarter (April-June) of the fiscal year 2024-25, a decline of 13.11 percent over the corresponding quarter of the previous year, a company statement said on Wednesday, July 31.
The company achieved total revenue of INR 94.29 billion ($1.13 billion) during the quarter, a drop of 7.4 percent year on year.
The board of JSL has also approved raising additional funds of $597 million, which the company said was an enabling resolution to “prepare for, among other things, organic and inorganic growth opportunities”.