Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Jai Balaji Industries Ltd (JBIL), a city-based steel product company, showed a standalone net profit of ₹273 crore for the fourth quarter ended March 2024 against a loss of ₹13 crore in the corresponding period last year.
According to the company's statement, total income surged by 15% YoY to ₹2002 crore in Q4 FY24. EBIDTA stood at ₹397 crore during the quarter under review with a margin of 20%.
The PAT for the financial year 2023-24 was ₹880 crore, an increase of 1421% YoY jump over FY'23.
"Our strategic focus remains on specialised products such as DI Pipes and Special-grade Ferro Alloys, which presently contribute to around 50% to our revenue and the increase in sales will help in achieving higher growth in forthcoming quarters. We take pride in being India's largest recognised producer of special-grade ferro alloys wherein substantial share comes from exports," CMD Aditya Jagodia mentioned in a statement.
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