India’s Jindal Stainless Limited (JSL) has reported a consolidated net profit of INR 7.16 billion ($87.35 million) for the fourth quarter (January-March) of the fiscal year 2022-23, a decline of 20 percent from the corresponding quarter of the previous fiscal year, a company statement said on Thursday, May 18.
The company achieved total revenues of INR 98 billion ($1.19 billion) during the quarter, up a marginal 0.5 percent year on year.
“With revocation of export duty, the company ramped up export sales in the fourth quarter of 2022-23 and consequently delivered the highest-ever quarterly sales volume of 507,632 mt,” the statement said.