JSPL Posts Profit Of Rs 181 Crore After 14 Quarters

Jindal Steel and Power Ltd posted its first profit in 15 quarters on Thursday and beat analysts' estimates, helped by higher iron and steel sales. Net profit was Rs 181 crore ($26.37 million) in the quarter ended June 30, compared with a loss of Rs 387 crore a year ago. Analysts were expecting a profit of Rs 133 crore, according to Thomson Reuters.

Jindal Steel and Power's steel sales rose 40 per cent in the quarter to 161 million tonnes, the company said.

While global growth outlook for steel remained robust, the US-China trade spat poses some risk, the company added.