New Delhi, July 31: Jindal Steel and Power (JSPL) has reported a 28.27 per cent increase in its consolidated net profit at Rs 494.28 crore for the April-June quarter over the corresponding period a year ago.
The Naveen Jindal-led firm had reported a net profit of Rs 385.33 crore during the corresponding quarter of 2012-13.
The net sales registered a marginal decline of 4 per cent to Rs 4,490.80 crore. Other income, however, surged to 135 per cent to Rs 49.47 crore, helping the company clock higher profit.
The other income was recorded at Rs 21.06 in the 2012-13 quarter previous fiscal while the net sales stood at Rs 4,680.41 crore in the June-ended quarter of the previous fiscal.
The steel maker's total income from operations marginally dropped to Rs 4,540.27 crore in the quarter ended June from Rs 4,701.47 crore in the same period a year ago, it said in a regulatory filing. Total expenses of the company rose 5.6 per cent during the qurter under review to Rs 3,656.74 crore from Rs 3,461.08 crore in the April-June quarter of 2012-13.
On standalone front, teh company posted "a net profit of Rs 238.86 crore for the quarter ended June 30, 2013 as compared to Rs 12.42 crore for the quarter ended June 30, 2012, it said.
JSPL shares closed at Rs 202.25 apiece, up 1.45 per cent from the previous close on the BSE.