JSPL shares zoom nearly 14% after company reports consolidated net profit of Rs 306 cr in Q4
Shares of Jindal Steel and Power Ltd (JSPL) on Tuesday rallied nearly 14 percent after the company reported a consolidated net profit of Rs 305.62 crore during the quarter ended on 31 March, 2020
New Delhi: Shares of Jindal Steel and Power Ltd (JSPL) on Tuesday rallied nearly 14 percent after the company reported a consolidated net profit of Rs 305.62 crore during the quarter ended on 31 March, 2020.
The stock advanced 13.38 percent to close at Rs 109.30 on the BSE. During the day, it zoomed 14.93 percent to Rs 110.80.
On the NSE, it jumped 13.81 percent to settle at Rs 109.95.
In terms of volume, 27.08 lakh shares were traded on the BSE and 5.75 crore on the NSE.
JSPL on Monday reported a consolidated net profit of Rs 305.62 crore during the quarter ended on March 31, 2020.
The company had posted a net loss of Rs 2,713.34 crore in the year-ago quarter, JSPL said in a BSE filing.
However, its total income during the quarter under review was lower at Rs 8,835.23 crore as against Rs 10,158.95 crore in the same period year ago.
Total expenses stood at Rs 8,355.48 crore in March 2020 quarter as compared to Rs 11,850.61 crore in the corresponding period of the preceding fiscal.
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CBI sources said Jindal, who has been named as accused along with the former Minister for State for Coal Dasari Narayan Rao in its 13th FIR, would be questioned this week.
The controversy surrounding the coal scam is a matter of public and national interest and readers have a right to know about it, a Delhi court on Friday said while rejecting a plea of Jindal Steel and Power Ltd seeking criminal defamation proceedings against a media group.