• Steel Market Insider

    We strive to let you one step ahead of the market

Steel News
Advanced search
    Key words
  • Search By
  • Date
  • Classification
  • Region
Advanced search

JSPL’s Q2 profits drops on higher raw material costs

  • A
  • A
  • A
Jindal Steel & Power Ltd. (JSPL), India's biggest alloy producer reported an unexpected decline in its Q2 profits, due to higher raw material costs and a one-time expense.

Its net income fell to INR8.75 billion in the three months ended on September 30th from INR8.82 billion rupees in a year earlier.

It’s known that the coking coal prices surged by 40% to US$315/ton in the last quarter, boosted by the heavy rain in Australian Queensland state. However, the steel prices remained flat in the given period due to weak demand.

The company indicated that its total expenses, including raw material costs for the quarter jumped by 65% to INR30.5 billion.
News Date 19 Oct 2011 14:35:18 reported by WilliamYuan

Ukraine Metinvest announces net losses in 2015...
Finance and economy
27 May 2016 10:02
Serbia RTBBor plans to cut jobs, seek funding thro...
Finance and economy
27 May 2016 09:13
ArcelorMittal announces its net losses significant...
Finance and economy
25 May 2016 11:43
Germany Salzgitter announces its net profits fall ...
Finance and economy
23 May 2016 10:03
Mechel posts net loss for 2015...
Finance and economy
19 May 2016 10:24
Most Popular