Jindal Steel posts Rs.12.75-bn loss
By IANSTuesday, January 27, 2009
MUMBAI - Private steel manufacturer Jindal Steel Wednesday announced standalone net loss of around Rs.1.28 billion (Rs.127.5 crore) for the quarter ended Dec 31, as against a profit of near Rs.3.56 billion (Rs.355.37 crore) in the year-ago period.
In a regulatory statement, the company said its standalone net income was Rs.28.27 billion (Rs.2,826.74 crore), a marginal rise of 0.14 percent from around Rs.28.23 billion (Rs.2,822.74 crore) registered in the corresponding period last fiscal.
The company also posted a consolidated net loss of about Rs.1.88 billion (Rs.187.83 crore) for the period under review, when compared to the Rs.2.97 billion (Rs.297.25 crore) profit posted in the year-ago period.
Consolidated net income grew 6.97 percent to Rs.33.19 billion (Rs.3,319.11 crore) for the quarter ended Dec 31 as compared to Rs.31.02 billion (Rs.3,102.66 crore) in the last corresponding period.
