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Rephrase the title:Jindal Stainless Q3 net profit rises 35% to Rs 691 cr

Posted on January 18, 2024 By Haley Bennett

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Jindal Stainless Ltd (JSL) on Thursday posted a 35% rise in its consolidated net profit to Rs 691.22 crore during the December quarter, aided by trimmed expenses. Its net profit was at Rs 512.62 crore during the October-December period of the preceding 2022-23 fiscal, the company said in a regulatory filing.

The company’s total income was also higher at Rs 9,166.42 crore as against Rs 9,101.24 crore in the year-ago quarter.

While expenses reduced to Rs 8,262.66 crore during the period under review, from Rs 8,451.20 crore a year ago.

The company also announced the elevation of its Whole-time Director Tarun Kumar Khulbe as its CEO with effect from January 1, 2024.

The board of the company has also given in-principal approval for the acquisition of up to 100% stake in Iberjindal S.L., a subsidiary company based out in Spain. The board has delegated its power to the subcommittee of the board for negotiating the purchase price.

It also approved to divest up to an entire 26% equity stake held in Jindal Coke Ltd, an associate company, which has a net worth of Rs 582 crore.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:iberjindal s.l., jindal steel, jindal steel earnings, jindal steel q3fy24, Tarun Kumar Khulbe

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