Jindal Stainless (Hi Q3 net profit down 34.44% at Rs 223.58 cr
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The company reported standalone net profit of Rs 223.58 crore for the quarter ended December 31, 2022 as compared to Rs 341.04 crore in the same period last year, registering a year-on-year decline of 34.44 per cent. Net revenue of the company declined marginally by 1.44 per cent at Rs 3,765.43 crore in October-December quarter of this fiscal as against Rs 3,820.33 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 3.84 per cent to Rs 3,426.73 crore from Rs 3,300.12 crore in year ago period. Other Income dipped by 0.80 per cent at Rs 28.55 crore versus (Dec'21 Rs 28.78 crore). Operating Profit slipped by 34.89 per cent to Rs 338.70 crore as against Rs 520.21 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 33.99 per cent in December quarter. Interest declined by 40.64 per cent y-o-y to Rs 18.86 crore, while Taxation decreased by 36.08 per cent at Rs 76.12 crore (Dec'21 Rs 119.08 crore).
