Jindal Steel and Power (JSPL) is planning to foray into coal bed methane (CBM) exploration business and is looking for partners overseas for the same. JSPL, which is primarily into steel manufacturing and power generation, initiated talks with Y K Modi promoted Great Eastern Energy Corporation (GEECL) for exploration business but the talks did not sail through. GEECL is the first explorer in the country to commercially exploit CBM.
The Company has reported 24.54% drop in FY13 net profit at Rs 1592.55 crore as compared to Rs 2110.65 crore for the year ended March 31, 2012. The company’s total income has increased by 11.80% at Rs 15113.98 crore for the year as compared to Rs 13518.43 crore for the previous year.
