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Jindal SAW today reported 13.73 per cent jump in net profit at Rs 61.11 crore for the second quarter ended September 30, largely on increased revenues.
The leading SAW (submerged arc welded) pipe-maker had reported a net profit of Rs 53.73 crore during the corresponding quarter of the previous fiscal.
Net sales of the company was up over 13 per cent to Rs 1,635.21 during the quarter vis-a-vis Rs 1,445.96 crore of the July-September period of FY’12, it said in a BSE filing.
The company further said its total expenses was up over 13 per cent to Rs 1,480.64 crore in the last quarter, while its finance outgo got doubled to Rs 37.67 crore.
Besides, Jindal SAW incurred a forex loss of Rs 57.74 crore due to volatility in the dollar-rupee exchange rate during the quarter.
Shares of the company closed today at Rs 113 apiece on the BSE, up 1.39 per cent from their previous close.
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