HomeProduct Complimentary download Jindal Stainless reports net loss in Q2

Jindal Stainless reports net loss in Q2

Keyword:
Publish time: 30th October, 2013      Source: ChinaCCM
Information collection and data processing:  CCM     For more information, please contact us
Hit by the dramatic rise in finance costs and rupee depreciation, Jindal Stainless' (JSL) reported a net loss of Rs 412 crore for the second quarter ended September 30, 2013. Also, the Company holds a conservative outlook on the domestic stainless steel industry due to continuing high inflation, large fiscal and current account deficits and a volatile currency.

However, stainless steel industry can be expected to grow about 8-9 percent in spite of various odds, only if the government is able to correct the unfavorable duty structure on the import of steel scrap.