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Business EconomyPosted at: Jan 29 2025 6:49PM


Jindal Stainless Steel net dips over 20 pc in Q3 at Rs 619 crore

New Delhi, Jan 29 (UNI) Jindal Stainless Limited (JSL) on Wednesday reported 20.6 percent dip in net profit year-on-year basis at Rs 619 crore in the October-December quarter of 2024-25, versus Rs 779 crore in the same quarter of 2023-24.
The company’s Q3FY25 standalone net revenue was recorded at Rs 10,066 crores, exhibiting a growth of 10.8 percent on a year-on-year basis, the company said in a regulatory filings with the stock exchanges.
Commenting on the performance of the company, Managing Director, Jindal Stainless, Mr Abhyuday Jindal, said, “Recent times in the Indian steel and stainless steel industry have been witness to the adverse effects of subsidised dumping of inferior quality products by countries having surplus capacities. With India still being the fastest growing major economy globally, the domestic industry needs immediate government measures to stop dumping of surplus quantities into India, and circumvention of quality norms through several FTA countries.
Our third quarter performance in the current fiscal is a testimony to our overall competitiveness even in the face of rising imports, and our adequacy in meeting domestic demand across all sectors. A favourable economy backed by bold infrastructure plans, accelerated use of stainless steel in process and greening industries, and a growing need to incorporate life cycle costing as a mandatory criterion for material selection in public procurement – all these factors augur well for continued demand of stainless steel.”
UNI SKB CS1848
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