Jindal Stainless Q3 profit jumps 39% YoY to Rs 692 crore

Jindal Stainless Q3 results: Steel major Jindal Stainless has reported a profit of Rs 692.33 crore for the quarter ended December 2023 (Q3 FY24), 39.16 per cent higher than the profit report during the year ago period. The company's revenue has increased marginally to Rs 9,127.45 crore in Q3 FY24 as against Rs 9,062.5 crore in Q3 FY23. Jindal Stainless' earnings before interest, depreciation, tax and amortisation (EBITDA) has risen 43.5 per cent YoY to Rs 1,246.17 crore.

“The quarter has been eventful, with our maiden COP 28 presence where we shed light on our decarbonisation efforts as a responsible business. Despite a global slowdown in stainless steel markets, the domestic market has been witnessing steady growth. Given the promise that India holds for the near and far future, we are confident of meeting our volumes in the next quarter", said Abhyuday Jindal, Managing Director, Jindal Stainless.

"We will continue to focus our energies on green manufacturing, operational excellence, business development, and nation–building,” he added.

The shares of Jindal Stainless closed 2.59 per cent lower at Rs 568.80 apiece on the NSE on Thursday, January 18.