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Jindal Steel and Power Ltd reported a 68 per cent fall in consolidated net profit to ₹518 crore for December 31, 2022. Profit after tax in the year ago period stood at ₹1,622 crore.
Gross revenue for the period under review stood at ₹14,452 crore. India’s steel industry, already grappling with a slump in prices, has been reeling since the government introduced an export tax on certain steel intermediaries in May.
As on December 31, 2022, consolidated net debt increased marginally by ₹36 crore to ₹7,090 crore, the company said in a statement.
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