Riding on the current upcycle in global as well as domestic steel prices, Jindal Steel and Power Ltd (JSPL) clocked a net profit of ₹5,527 crore for the financial year 2020-21. In the previous financial year, JSPL had reported ₹574 crore net loss.
For the fourth quarter ended March 2021, the company reported a 23 times jump in its consolidated profit after tax (PAT) to ₹1,900.51 crore. Its net profit in the year-ago quarter was at ₹82.13 crore, JSPL said in a BSE filing.
In a statement, the company said its annual production of steel including pig iron rose 19% year-on-year to 7.51 million tonnes, while the production of pellets rose by 6.6% to 7.28 million tonnes.
