Jindal Steel and Power is expected to increase its iron ore consumption by 25-30 million tonnes a year by 2015, three times current volumes, as it is planning to expand its production capacity to 11.5 million tonnes in two years from 3.5 million tonnes at present. The company’s annual steel capacity is likely to increase to 7.5 million tonnes by October when plants in eastern India and Oman start operating.
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.
