Jindal Stainless Ltd (JSL) on Thursday said its consolidated net profit had declined by 20 per cent to Rs 609.42 crore in the quarter that ended September 30, 2024 mainly because of the high input costs.
According to a filing with the exchange, the company had reported a net profit of Rs 764.03 crore during the July-September quarter of the past fiscal 2023-24.
A total income of Rs 9,823.88 crore was reported by the company in this quarter, down from Rs 9,828.97 crore in the like quarter the previous year.
The company's expenses went up to Rs 8,989.83 crore in the July-September quarter against Rs 8,944.04 crore in the second quarter of the last fiscal.
The company had a significant spurt in cost of materials consumed, which came at Rs 6,759.95 crore, compared with Rs 6,024.01 crore in the same period of the previous fiscal.
Jindal Stainless is the India's largest stainless steel producer.
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