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New Delhi, Jan. 21

Jindal Stainless Ltd (JSL), the country’s largest stainless steel manufacturer, has reported a 55.24 per cent dip in the net profit for the third quarter ended December 2007. The company’s net profit for the quarter was at Rs 50.6 crore as against Rs 113.05 crore in the corresponding previous quarter. The net sales for the third quarter of the current fiscal was down 6.71 per cent to Rs 1,348.57 crore as compared to Rs 1,445.59 crore in the third quarter of the previous financial year. JSL’s profit before tax for the quarter under review dipped by 54.98 per cent to Rs 78.03 crore as against Rs 173.34 crore recorded in the corresponding previous quarter. The earnings per share stood at Rs 2.79 for the December 2007 quarter. The shares of the company on Monday were down 17.84 per cent on the Bombay Stock Exchange to close at Rs 160.45.

– Our Bureau

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