Home BusinessJindal Steel Q1 net up 2-fold; announces 5:1 bonus issue
Jindal Steel & Power today reported a two-fold increase in consolidated net profit at Rs 988.47 crore during the first quarter ended June 30, 2009.
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Total income rose to Rs 2,786.22 crore during the June quarter, from Rs 2,180.38 crore in the corresponding period a year ago, Jindal Steel said in a filing to the Bombay Stock Exchange(BSE).
The board has approved the allotment of five bonus shares of Rs one each for every share held in the company.
However, on a standalone basis, Jindal Steel posted a net profit at Rs 300.06 crore, down 25.41 per cent over the period last year.
Total income decreased to Rs 1,592.66 crore during the quarter under review, from Rs 1,902.74 crore in the year-ago period.
Shares of Jindal Steel were trading at Rs 3,217, up 6.71 per cent in the late afternoon trade on the BSE.