Jindal Steel and Power reported a 47 per cent improvement in the bottom-line during the fourth quarter of financial year 2017.
An official statement said that the company’s net loss has lowered to ₹116 crore in the fourth quarter of fiscal 2016-2017 from ₹218 crore in the corresponding quarter of fiscal 2015-2016.
The company’s sales grew by 13 per cent during the fourth quarter of fiscal 2017 as compared to the same period during fiscal 2016.
In an official statement, the company said that the Government support to domestic steel and power industry has given a stimulus to local demand by way of enhanced investment in infrastructure.
The company’s turnover grew by 13 per cent to ₹4,545 crore during the fourth quarter of fiscal 2017. This stood at ₹4,033 crore during the last quarter of fiscal 2016.
For the full financial year 2017, the net loss lowered by 30 per cent to ₹986 crore. This was at ₹1,419 crore for the fiscal 2016. There was also a 5 per cent improvement in the turnover for fiscal 2017 at ₹15,494 crore. This stood at ₹14,693 crore during fiscal 2016.