Jindal Stainless Q1 net profit up 5.64% at Rs 286.74 cr
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The company reported standalone net profit of Rs 286.74 crore for the quarter ended June 30, 2022 as compared to Rs 271.42 crore in the same period last year, registering a year-on-year growth of 5.64 per cent. Net revenue of the company rose substantially by 38.92 per cent at Rs 5,336.41 crore in April-June quarter of this fiscal as against Rs 3,841.27 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 47.58 per cent to Rs 4,813.15 crore from Rs 3,261.44 crore in year ago period. Other Income grew by 70.37 per cent at Rs 16.39 crore versus (Jun'21 Rs 9.62 crore). Operating Profit slipped by 9.76 per cent to Rs 523.26 crore as against Rs 579.83 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 34.99 per cent in June quarter. Interest declined by 16.96 per cent y-o-y to Rs 67.35 crore, while Taxation decreased by 34.04 per cent at Rs 96.44 crore (Jun'21 Rs 146.20 crore).
