Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr

Indian steelmaker Jindal Steel and Power reported an almost four-fold rise in third-quarter profit on Wednesday, as easing costs offset a fall in sales.

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 crore a year ago.

The robust performance was supported by lower raw material costs as benefits from captive thermal coal mines materialised, it said in a statement. Its sales and services revenue fell 6.3% to Rs 13756 crore