Construction Industry News
Jindal Steel and Power Limited (JSPL) on Friday reported a multiple jump in consolidated net profit to Rs 2,770.88 crore for the quarter ended June 2022, due to higher revenues. The company's "total profit" was Rs 14.25 crore in the April-June 2021-22 period, JSPL said in a BSE filing.
During the quarter under review, total revenue rose to Rs 13,069.17 crore from Rs 10,643.17 crore a year ago. The cost was also higher at Rs 10,566.64 crore as compared to Rs 7,233.55 crore in the same period a year ago.
According to the filing, “Shallu Jindal, non-executive director, has decided to step down from the directorship of the company w.e.f. given her preoccupation and other obligations. closing of office hours on 15 July 2022.”
The board also approved the appointment of Ramkumar Ramaswamy and Sunil Kumar Agrawal as additional directors in the category of executive directors of the company with immediate effect.
In a separate statement, the company said steel production was almost stable at 1.99 million tons (MT) compared to 2.01 tons in April-June 2021. Steel sales were 1.74 tons, against 1.61 tons a year ago.
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