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Shares of Jindal Steel and Power (JSPL) today fell by over 3 per cent to hit a 52-week low level as the company’s consolidated net profit fell by nearly 35 per cent for the quarter ended March 31.
After making a weak opening, shares of the company further lost 3.13 per cent to Rs 318.50 — its 52-week low as the trade progressed on the BSE.
At NSE, the scrip went down by 3.34 per cent to touch a one-year low of Rs 318.20.
Hit by rising interest burden and lower sales realisations, JSPL’s consolidated net profit fell by nearly 35 per cent to Rs 760.27 crore for the quarter ended March 2013.
The Company had reported a net profit of Rs 1,167 crore in same quarter of previous fiscal.
Net sales during the fourth quarter of 2012-13 reported a growth of 2.16 per cent at Rs 5,583.33 crore. The company had reported a net sales of Rs 5,465.26 crore in the January-March quarter of 2011-12.
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