Steel manufacturing company Jai Balaji Industries Ltd. for the second quarter ended September 30 reported a 24% fall in net profit to ₹153.16 crore as compared with ₹201.55 crore in the year-ago period. The fall was on account of deferred tax provisions, the company said.
For the quarter the company’s revenues remained flat at ₹1,556.57 crore as compared with ₹1,546.63 crore a year ago.
The board has announced the sub-division of its equity shares of face value ₹10 each into 5 equity shares of face value of ₹2 each to increase the liquidity of its stock, the company said in a filing. The company said the ongoing Capex of ₹1000 crore has been on schedule as envisaged.
Aditya Jajodia, Chairman and Managing Director said, “We are very optimistic for the second half of FY25, owing to get better results on the strategic capex done by the company on its value added products.”
“We continue to be focused on the value chain comprising of DI Pipes and Ferro Alloys, which shall continue to contribute more in the topline as well as bottom line of the company,” he said.
Published - November 12, 2024 09:54 pm IST
