Jindal Steel net jumps 50%

The board has recommended an interim dividend of 120% i.e. Rs 6 per equity share of Rs 5 each.

By PTI | Jan 29, 2007, 03.00 PM IST

NEW DELHI: Jindal Steel & Power Ltd (JSPL) has reported 50% jump in net profit for the quarter ending December 31, 2006. The company posted a net profit of Rs 189.9 crore for the quarter as compared to Rs 126.54 crore for the corresponding quarter last year. Net sales increased by 61.5% to touch Rs 1,010.06 crore during the quarter.

The board has recommended an interim dividend of 120% i.e. Rs 6 per equity share of Rs 5 each. The board also approved the setting up of 6 million tonne steel plant at Angul in the state of Orissa and 3 million tonne steel plant at Patratu in the state of Jharkhand.

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