Jindal Stainless has registered a fall of 71.74% in net profit at Rs 18.55 crore for the fourth quarter of 2011-12 as compared to Rs 65.63 crore in the same quarter of previous fiscal. The fall in net profit is mainly due to depreciation of rupee and higher cost of chrome ore and coal.
Total income from operations of the company during the quarter, however, was up by 24.34% at Rs 2,166 crore against Rs 1,742 crore in the January-March quarter of the previous fiscal.
The company has reported a consolidated net loss of Rs 180 crore during the year compared to a net profit of Rs 314 crore in 2010-11. Its consolidated income in 2011-12 was at Rs 8,765 crore against Rs 7,532 crore a year ago, up by 16.37%.
