Jindal Steel to setup new plants, Q3 profit after tax at Rs.189.9 Crores

Jindal Steel & Power Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 1899.00 million for the quarter ended December 31, 2006 as compared to Rs 1265.40 million for the quarter ended December 31, 2005. Total Income (net of excise) has increased from Rs 6401.30 million for the quarter ended December 31, 2005 to Rs 10124.30 million for the quarter ended December 31, 2006.

The Board of Directors have recommended Interim dividend @ 120 % i.e. Rupees 6/- per equity share of Rs 5/- each on 3,07,92,268 equity shares.

The Board has also approved setting up of (i) 6 million ton steel plant at Angul in the state of Orissa and (ii) 3 million ton steel plant at Patratu in the state of Jharkhand.

Source : Equity Bulls

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