Jindal Stainless 2nd qtr net grows 3-folds to `498.58 cr

New Delhi: Jindal Stainless (Hisar) Ltd (JSHL) on Thursday posted a nearly three-fold jump in its consolidated net profit at Rs 498.58 crore during the quarter ended September 30, mainly on account of higher income.

In a regulatory filing, the company said it had clocked Rs 168.64 crore net profit in the year-ago quarter.

The company's total income in the July-September quarter of the ongoing fiscal also rose to Rs 3,771.90 crore from Rs 2,328.92 crore a year ago.

Its expenses were at Rs 3,262.26 crore as against Rs 2,149.79 crore in July-September period of the preceding 2020-21 financial year.

In a statement, JSHL Managing Director Abhyuday Jindal, said, Strong macro-economic fundamentals of the economy led to a quick recovery during the second quarter and strengthened market demand."

He said that an overall increase in government spending along with further improvement in economic activity will support demand

recovery.