Jindal Steel loss Narrows to Rs 407.44 cr in December

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Naveen Jindal-led firm Jindal Steel & Power Ltd (JSPL) has reported that its consolidated net loss shrank to Rs 407.44 crore in the October-December quarter of FY17. “The consolidated net loss of the company stood at Rs 869.73 crore during the same period a year ago,” Jindal Steel & Power Ltd said in a filing to the Bombay Stock Exchange. 

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Further, the consolidated total income of the company grew by 24.6 per cent to Rs 5,408.18 crore during Q3 2016-17, as compared to Rs 4,341.02 crore during the same period last year. JSPL said its consolidated steel production stood at 1.15 million tonnes, up 7 per cent from the corresponding quarter last fiscal while sales were up 18 per cent at 1.16 MT. 

It said the company’s consolidated net debt as on December 31, 2016 was maintained at similar levels as in the previous quarter. Its consolidated debt is about Rs 45,000 crore. Meanwhile, shares of the company were trading at Rs 88.80 apiece, up 0.85 per cent, from previous close on BSE at 13:09 hours.

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