The Hindu Business Line : Jindal SAW net up 21%, sales down

Jindal SAW Ltd on Wednesday reported a 21 per cent increase in net profit to Rs 85 crore for the January-March quarter compared with Rs 70 crore in the corresponding quarter of the previous financial year. The company’s sales stood at Rs 952 crore as against Rs 1,269 crore in the corresponding quarter last fiscal. Total sales went down because during the period, the company had operations only at its Indian facilities whereas during the corresponding quarter in the p revious year, the company’s facilities in the US too were operational, the company said in a release. Commenting on the results, the company’s Managing Director, Mr Indresh Batra, said that “the company has a strong order backlog in excess of $1 billion, of which 65 per cent will be exported in the global market.” “Riding on the infrastructure boom, we are committed to explore every opportunity within its fold. Our new initiatives in the domestic infrastructure space, especially water management and waterborne transportation, are progressing as per schedule,” he said.

– Our Bureau

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