November 22, 2008

Jindal SAW Q4 2008 net profit up by 21% YoY

Jindal SAW Limited has reported a 21% YoY increase in net profit to INR 85 crore for the January to March 2008 quarter as compared with INR 70 crore in January to March 2007 quarter. Sales stood at INR 952 crore down by 24.9% YoY as against INR 1,269 crore.

Mr Indresh Batra MD of Jindal SAW Limited said that "It has a strong order backlog in excess of USD 1 billion, of which 65% will be exported in the global market. Riding on the infrastructure boom, we are committed to explore every opportunity within its fold.”

Mr Batra added that “Our new initiatives in the domestic infrastructure space, especially water management and waterborne transportation, are progressing as per schedule."