06-08-2025
India's Jindal Stainless posts quarterly profit rise on strong domestic demand
Aug 6 (Reuters) - India's Jindal Stainless ( opens new tab reported an 11% rise in first-quarter profit on Wednesday, helped by strong local demand.
The O.P. Jindal Group company's consolidated profit after tax rose to 7.15 billion rupees (about $82 million) for the quarter ended June 30.
Local demand for stainless steel - used in logistics, automotive industry, home appliances and the industrial sector - remained strong in the quarter, supported by strong manufacturing activity and government spending.
Moreover, stainless steel imports in the country softened in the quarter, while exports increased, analysts at Jefferies said, keeping prices up.
Its consolidated revenue rose 8.2% to 102.07 billion rupees.
Shares of the company ended 1.15% higher ahead of the results.
($1 = 87.6430 Indian rupees)
