Jindal Stainless reports improved year end results

Jindal Stainless reports improved year end results

Indian steel producer Jindal Stainless Limited has recently posted financial results for the fiscal year ended on March 31, 2004. According to report, the company increased its net profit by 78% to Rupees 1.6 billion ($36.4 million) against Rupees 902 million ($20.5 million) recorded in the previous fiscal. Moreover, the revenue of the company increased to Rupees 24.1 billion up by 31% when compared with Rupees 18.5 billion ($421 million) recorded in the previous fiscal. The growth in the revenue is attributed to the increase in the exports, which amounted to Rupees 11.3 billion ($257 million), up by 54%. Domestic sales also grew by 15% to Rupees 12.8 billion ($291 million). The production of the company also indicated a growth of 16%. Jindal Stainless produced 481'181 mt in the recently ended fiscal against 416'489 mt recorded in the previous fiscal.