JSPL surges over 6% after Q3 net loss narrows
NEW DELHI: Shares of Jindal Steel & Power (JSPL) gained as much as 6.53 per cent in morning trade on Wednesday after the net loss of the company narrowed to Rs 455 crore for the quarter ended December 31, 2016 against net loss of Rs 882 crore in the corresponding quarter last year.
The Naveen Jindal-led firm had clocked a net loss of Rs 882 crore in the corresponding quarter in 2015-16.
Consolidated gross sales of the company stood at Rs 5,849.70 crore, up 22.84 per cent YoY, against Rs 4,762.04 crore in the same quarter last fiscal.
The scrip was trading 4.15 per cent up at Rs 91.70 around 11.10 am (IST). Shares of the company opened at Rs 88.80 and touched a high and low of Rs 93.80 and Rs 88.80, respectively, in trade so far. Benchmark BSE Sensex was down 58.16 points, or 0.21 per cent, 28,281.15.
"We are heading towards a turnaround with a good performance," JSPL's Managing Director and CEO Ravi Uppal told PTI.
The Naveen Jindal-led firm had clocked a net loss of Rs 882 crore in the corresponding quarter in 2015-16.
Consolidated gross sales of the company stood at Rs 5,849.70 crore, up 22.84 per cent YoY, against Rs 4,762.04 crore in the same quarter last fiscal.
The scrip was trading 4.15 per cent up at Rs 91.70 around 11.10 am (IST). Shares of the company opened at Rs 88.80 and touched a high and low of Rs 93.80 and Rs 88.80, respectively, in trade so far. Benchmark BSE Sensex was down 58.16 points, or 0.21 per cent, 28,281.15.
"We are heading towards a turnaround with a good performance," JSPL's Managing Director and CEO Ravi Uppal told PTI.
