Jindal Steel and Power (JSPL) is planning to spend Rs 24,000 crore by the end of 2014-15 fiscal in order to finish its ongoing expansion and start work on next phase of capacity addition. Out of which, the company plans to spend a capital expenditure of Rs 12,000 crore for both steel and power together in this year and Rs 11,000-12,000 crore in the next year. It will be commissioning new steel mills in Odisha’s Angul and in Oman and a new power plant of 2,400-MW capacity in Chhattisgarh’s Tamnar.
The firm 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.
