Jindal Steel Q3 net up 50 pc, interim dividend at 120 pc

Mumbai, Jan 29 (UNI) Jindal Steel&Power today announced an impressive increase of 50.07 per cent in their net profit for the quarter ended December 31, 2006 at Rs 189.90 crore, as compared to Rs 126.54 crore for the last quarter ended December 31, 2005. Announcing the results here the company said it's total income (net of excise) has increased from Rs 640.13 crore for the quarter ended December 31, 2005 to Rs 1,012.43 crore for the quarter ended December 31, 2006.

Meanwhile, their Board of Directors, at a meeting held on January 29, have recommended interim dividend @ 120 per cent, that is Rs 6/- per equity share of Rs 5/- each on 3,07,92,268 shares.

The have also approved setting up of a 6 million ton steel plant at Angul in Orissa and a 3 million ton steel plant at Patratu in Jharkhand, company executives added.

UNI