Jindal Steel Shares Sink 6% As Company Reports Loss

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares in Jindal Steel sank a huge 6 per cent after the company reported a loss of Rs 235 crores for the quarter ending March 31, 2015. The company had reported a net profit of Rs 430.83 crore during the previous quarter ended March 2014.

    Jindal Steel Shares Sink 6% As Company Reports Loss
    The stock was last trading at Rs 121 on the National Stock Exchange with a loss of 6.21 per cent. "Continued subdued demand for steel and unabated import of steel from Korea, China and other countries saw net realisations plummet," the company said.

    The company's financial performance was also impacted due to the expense of additional levy of Rs 1912 crores as per the Judgement of the Honourable Supreme Court.

    "All the steel plants delivered a stable performance and new units got over with their teething issues," the company said in a statement.

    GoodReturns.in

    Read more about: jindal steel
    Story first published: Thursday, May 28, 2015, 13:14 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more