Jindal Steel & Power’s Q4 net profit surges to Rs 1,900 cr

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Jindal Steel & Power Ltd (JSPL).

Jindal Steel & Power Ltd (JSPL) on Wednesday reported a consolidated net profit of Rs 1,900.51 crore for the quarter ended March, rising multifold times on a year-on-year basis.

During the same quarter of FY20, the company had reported a net profit of Rs 82.13 crore.

Revenue from operations of the company increased nearly 75 per cent on a year-on-year basis during the period under review to Rs 11,880.61 crore.

In a statement, the company said that solid operational performance, divestment of non-core assets and lower capex have all contributed to JSPL’s path of deleveraging with net debt declining sharply from Rs 35,919 crore in FY20 to Rs 22,146 crore in FY21.

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