Jindal SAW records 90% rise in net profit

New Delhi, Oct 27 (UNI) Jindal SAW Ltd, a key player in global energy and water infrastructure, has posted 90 per cent increase in net profit for the quarter ended September 30 this year against corresponding quarter in the previous year.

According to a company release issued here today, the higher profitability has been achieved by the company as a result of improved productivity and bringing more efficiency in the operations in its various business segments including SAW Pipes, Steel Plates, DI and Seamless Pipes.

The company's gross turnover increased by about 25.7 per cent to Rs 1,470 crores from Rs 1,170 crores in the corresponding quarter of the previous year.

Jindal SAW Ltd's total operating profit increased by about 45 per cent to Rs 170 crores from Rs 117 crores and the net profit has increased to Rs 90 crores from Rs 48 crores in the same quarter in the previous year.

The eight billion dollar Jindal Group, is the fourth largest industrial house in India. Having started Large Diameter Submerged Arc Welded pipes (SAW Pipes) operations in 1984 from single product, one single location at Kosi Kalan (Uttar Pradesh in North India ) Jindal SAW Ltd today offers 'total pipe solution' spanning continents, the release added.

UNI