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Jindal Stainless Ltd (JSL) on Tuesday more than doubled its standalone net profit for the quarter ended June 2018 at ₹90.85 crore as compared with the corresponding quarter last year.
The company registered a profit of ₹41.50 crore in the comparable quarter last year.
JSL reported standalone revenue of ₹3146.75 crore for the first quarter of the fiscal 2019, up 43.4 per cent, compared to the ₹2194.31-crore for the same period last year.
JSL registered robust growth, despite the seasonally low first quarter, due to expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernisation, and auto segment, according to a press release.
Production up
According to the release, melt production grew by 45 per cent in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilisation.
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