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JSPL gets government clearance for 1,320-acre Jharkhand land

04 Aug 2011 Evaluate

Jindal Steel and Power (JSPL) has received government’s clearance for 1,320-acre Jharkhand land. A high-level state land acquisition committee headed by development commissioner has approved 1,320 acre land to JSPL for its proposed 1,200 MW super critical thermal power station in Jharkhand's Godda district. Further, the committee has also approved 326 acre land for the proposed 600 MW thermal power by Kolkata Sub-urban Electrical Supply Company at Ramgarh in Dumka district.

Jindal Steel & Power, part of the $12 billion Jindal Group, is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers. The company’s net profit for the quarter ended June 30, 2011 has registered growth of 7.91% at Rs 470.16 crore as compared to Rs 435.69 crore for the quarter ended June 30, 2010. Its total Income has increased by 19.52% at Rs 2543.18 for Q1FY12 million from Rs 2127.80 crore for Q1FY11.

On consolidated basis, the Group’s net profit has declined by 2.44% at of Rs 918.79 crore for the quarter as compared to Rs 941.82 crore for the similar quarter of the last fiscal. Its total Income has shot up by 31.98% at Rs 3972.51 crore for the quarter from Rs 3009.92 crore for the June quarter of the previous year.

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