India’s Jai Balaji Industries Limited (JBIL), a manufacturer of rebar, steel ductile pipes and steel bars, has reported a net profit of INR 2.729 billion ($32.89 million) for the fourth quarter (January-March) of the fiscal year 2023-24, compared to a net loss of INR 130.83 million ($1.57 million) in the corresponding quarter of the previous fiscal year, according to a company statement on Friday, April 26.
The company reported a total income of INR 20.018 billion ($241.18 million) during the quarter, up 14.70 percent year on year.
The net profit for the fiscal year 2023-24 was reported at INR 8.795 billion ($105.97 million) up 1,421 percent year on year, the company reported.
Total income during 2023-24 was reported at INR 68.288 billion ($822.75 million) up 7.60 percent over the previous fiscal year.