Jindal Steel posts 12.75 Billion loss

Thursday, 29 January 2009, 11:38 Hrs   |    1 Comments
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Mumbai: Private steel manufacturer Jindal Steel Wednesday announced standalone net loss of around 1.28 billion (127.5 crore) for the quarter ended Dec 31, as against a profit of near 3.56 billion (355.37 crore) in the year-ago period.

In a regulatory statement, the company said its standalone net income was 28.27 billion (2,826.74 crore), a marginal rise of 0.14 percent from around 28.23 billion (2,822.74 crore) registered in the corresponding period last fiscal.

The company also posted a consolidated net loss of about 1.88 billion (187.83 crore) for the period under review, when compared to the 2.97 billion (297.25 crore) profit posted in the year-ago period.

Consolidated net income grew 6.97 percent to 33.19 billion (3,319.11 crore) for the quarter ended Dec 31 as compared to 31.02 billion (3,102.66 crore) in the last corresponding period.
Source: IANS
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