JSPL profit jumps to Rs 1,923 crore in Q3

New Delhi: Steel maker Jindal Steel and Power Ltd (JSPL) on Wednesday posted close to a four-fold jump in consolidated profit to Rs 1,923 crore in the December quarter, aided by reduced expenses.

It had clocked a "total profit" of Rs 518.27 crore in the year-ago period, the company said in an exchange filing.

The company's total income fell to Rs 11,736.40 crore from Rs 12,469.50 crore in the year-ago quarter.

JSPL trimmed expenses to Rs 9,809.57 crore from Rs 11,028.27 crore in the October-December period of the last fiscal.

In a statement, JSPL Chairman Naveen Jindal said, "We achieved several important milestones during the quarter, which includes commissioning of the Utkal C thermal coal mines, state-of-the-art hot strip mill and International EPD certifications for Hot Rolled plates/coils and structural steel." "This demonstrates both our commitment and capability to execute the capex plan which will surely make us one of the most cost-efficient and eco-friendly steel companies in India."