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Jindal Steel & Power : A leading steel maker announced a phenomenal rise in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company rose 62.18% to Rs 4,500 million from Rs 2,774.70 million in the same quarter previous year.Net sales for the quarter jumped 74.63% to Rs 22,161.20 million, while total income for the quarter jumped 75.41% to Rs 22,310.80 million, when compared with the prior year period.
The company reported earnings of Rs 29.09 a share during the quarter, registering 67.72% decline over previous year period.
During the quarter, the operating margin of the company dropped to 34.27% compared with the previous year period. Interest cost decreased 28.85% to Rs 562.80 million while depreciation cost fell 8.60% to Rs 1,076.90 million over previous year period.
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