Jindal Stainless posts ₹161-cr profit

Jindal Stainless has reported a net profit of ₹161.12 crore in the fourth quarter of financial year 2017. This reflects a turnaround for the company from the ₹171-crore net loss in the corresponding period of fiscal 2016. According to a filing in the exchanges, total expenses rose to ₹2,267.03 crore in Q4 of the financial year 2016-2017. This is higher than the ₹2,199.86-crore total expenses in the fourth quarter of fiscal 2015-2016. The JSL’s borrowings came down to ₹1,738.13 crore in the fourth quarter from ₹1997.75 crore in the corresponding period of fiscal 2016. Our Bureau