Jindal Stainless (Hisar) Ltd shines all the way in 3rd quarter of FY19
New Delhi: Jindal Stainless (Hisar) Limited (JSHL) on Wednesday announced its financial result for the third quarter of FY 19. Revenue during the quarter remained flat at Rs 2,233 crore compared to Rs 2,229 crore in Q2FY19. Continuously falling Nickel prices impacted profit after tax (PAT) in Q3 on account of inventory losses. PAT declined from Rs 62 crore to Rs 55 crore, registering a drop of 11% in Q3FY19 compared to Q2FY19. As Nickel prices declined from the second to the third quarter, the markets witnessed continued destocking. Contrary to the expectations of a festive season, demand from major segments like automobiles and consumer goods slowed down during the quarter.
JSHL further strengthened its foray into Defence & Aerospace segment and is continuously working to develop and supply special alloys for various strategic applications viz. Submarine Rocket Launchers, Armored Vehicles, Mine Trawls etc. JSHL recently received a prestigious order of special steel sheets from ISRO for Rocket Motor Booster Application (Satellite Launch Vehicle).