Jai Balaji Inds announces plans to foray into cement biz

Jai Balaji Industries said that that with a view of long-term prospects, the company is planning to expand its portfolio by entering into a business of Cement in addition to its existing business.

The announcement was made during market hours today.

Jai Balaji Industries is an integrated steel manufacturer with five facilities in Durgapur and Raniganj in West Bengal and Durg in Chhattisgarh. The company offers various value-added products, including ferro alloys, alloy and mild steel billets, reinforcement steel TMT bars, wire rods, ductile iron (DI) pipes and alloy and mild steel heavy rounds.

The company's consolidated net profit jumped 134.74% to Rs 27.91 crore in the quarter ended December 2022 as against Rs 11.89 crore during the previous quarter ended December 2021. Sales rose 20.11% to Rs 1536.95 crore in Q3 FY23 over Q3 FY22.

The scrip fell 3.08% to currently trade at Rs 50.35 on the BSE.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)