JSL saw 35% increase in net profit in December quarter

The company's profit stood at Rs 512.62 billion net in the October-December period of the previous financial year. JSL's total revenue was recorded at Rs 9,166.42 billion compared to the same quarter in the previous year, which was Rs 9,101.24 billion in the previous year.

Expenses decreased to Rs 8,262.66 billion during the period under review, from Rs 8,451.20 billion in the previous year. Additionally, in the statement made by the company, it was reported that approval in principle was received for the appointment of Tarun Kumar Khulbe as CEO as of January 1, 2024, as well as the acquisition of up to 100 percent shares of the Spain-based subsidiary Iberjindal SL.

The board delegated authority to negotiate the purchase price to a subcommittee of the board. Additionally, approval was given to dispose of the entire 26 percent equity stake in Jindal Coke Ltd.