Jindal Steel and Power Ltd (JSPL) on Friday reported a 16.50 per cent growth in its consolidated net profit to Rs 1,167 crore for the quarter ended March 31, 2012, on increased steel and power sales.
The company had reported a net profit of Rs 1,001.70 crore during the same quarter in FY11.
Net sales of the company went up by 42 per cent in the last quarter to Rs 5,465.26 crore vis-a-vis Rs 3,848.12 crore of the Q4 of FY'11.
"This was the highest ever profit for the whole JSPL group in a particular quarter as there was an all round rise in (iron ore) pellet, steel products and power, both for sales and production," JSPL Chief Financial Officer Sushil Maroo said.
During the quarter, company's steel production went up by 23 per cent, while pellet production increased 24 per cent and power production was up 42 per cent, he said.
Moreover, all the three products also reported significant increase in sales, with pellet sales registering over 200 per cent growth.
For the full year 2011-12, the company clocked a meagre growth of 5 per cent in its consolidated net profit to Rs 4,002.26 crore vis-a-vis Rs 3,804.01 crore of FY'11. During the year, the net sales of the company were up 38.87 per cent to Rs 18,151.41 crore.