DSIJ Mindshare

The net sales increased by 25 per cent to Rs 63.05 crore and the net profit skyrocketed by 260 per cent to Rs 1.51 crore in H2FY23 compared to H1FY23.

On Thursday, shares of Jindal Stainless Ltd zoomed 1.50 per cent to make a new 52-week high of Rs 437.70 per share. The stock is hitting back-to-back 52-week highs in the recent trading sessions.

Earlier, the company received an order worth Rs 117.92 crores from ONGC-Ankleshwar for the design, construction, and operation of a 15 MW solar power plant. The project will be completed in 12 months.

The company announced its quarterly results ended June 30, 2023 wherein the net sales increased by 33.55 per cent to Rs 47,882 crore and net profit increased by 39 per cent to Rs 3,096 crore in Q1FY24 over Q1FY23. As of June 30, 2023, the company order book stands at Rs 4.13 lakh crore.

According to the quarterly results, the net sales increased by 26.67 per cent to Rs 0.76 crore and net profit decreased by 6.25 per cent to Rs 0.15 crore in Q1FY24 compared to Q1FY23. The company reported net sales of Rs 2.53 crore and net profit of Rs 0.77 crore in FY23.