look news india
Jindal Stainless Limited (JSL) has released the results of the third quarter of FY 2024-25 (Q3 FY25) on Wednesday, 29 January. The company’s net profit fell 5.35% to ₹ 654.27 crore in the December quarter, compared to ₹ 691.22 crore in the same period last year. The company said that the reason for the decline in net profit is increasing expenses and subsidized dumping of low -quality steel products by countries with surplus capacitance. Today, Jindal Stainless closed at ₹ 636 with a gain of 3.44% at the Stainless National Stock Exchange (NSE). As of January 29, the company’s total market cap is ₹ 52,391.75 crore.
Increase in income
The company’s total income for three months ended December 31, 2024 increased by 9.16% to ₹ 10,006.41 crore, compared to ₹ 9,166.42 crore in the same period last year. The company’s revenue grew by 8.5% in the third quarter to ₹ 9,907.30 crore, compared to ₹ 9,127.45 crore in the last year’s period. Serialarily, revenue increased by 1.3% and profits increased by 7.1%. The company’s expenditure in the period under review increased to ₹ 9,101.90 crore, which is 10.16% more than ₹ 8,262.66 crore in the third quarter of FY 24.
Declaration of dividend
The company’s board has approved the payment of 50% interim dividend, ie equity share of Rs 1 (face value of Rs 2) per equity share for FY 2025. The record date for this has been set on 08 February 2025, and the dividend will be paid on or before February 27, 2025.