Jindal Stainless Q4 net profit declines 30% to Rs 500 cr

New Delhi, May 15 (PTI) Jindal Stainless on Wednesday reported a 30 per cent fall in consolidated net profit to Rs 500.65 crore for the March quarter on account of lower income.

It had clocked Rs 716.29 crore net profit during the fourth quarter of FY23, the company said in an exchange filing.

The company's total income also decreased to Rs 9,509 crore from Rs 9,803.01 crore in January-March FY23.

During the period under review, its expenses stood at Rs 8,805.55 crore against Rs 8,885.45 crore a year ago.

The board of the company also recommended a final dividend of Rs 2 per equity share for the financial year ended March 31, 2024.

Jindal Stainless is the country's largest stainless steel making company.