Jindal Stainless' profit up by 52%

Jindal Stainless’ profit up by 52%

Recent market news report that Indian producer Jindal Stainless increased its profit by 52% to Rupees 475 million ($10.5 million) in the third quarter ended on December 30, 2003 against Rupees 313 million ($6.9 million) recorded in the same period of 2002. Moreover, again in the same quarter, revenues of the company increased by 27% to Rupees 5.8 billion ($129 million) from Rupees 4.6 billion ($102 million) recorded in the same period of 2002. The company also reported its exports as Rupees 2.46 billion ($54 million) up by 34% when compared with the figure reported in the third quarter of 2002. In the first nine months of current fiscal (April-December), sales of the company increased to Rupees 16.5 billion ($363 million) from Rupees 13.3 billion ($294 million) recorded in the first nine months of previous fiscal.