New Delhi, Oct 13: Jindal Strips expects to report an operating profit of Rs 130 crore in the second quarter ended September 30, a 75 per cent increase over the first quarter’s figure of Rs 74 crore. The results are likely to be announced on October 19.
Company officials said bottomline growth was underpinned by rising global steel prices, falling interest rates and cutback in production costs. In the year ended March 31 2002, operating profits stood at Rs 244 crore. “We expect to register an increase of around 50-60 per cent in profits (year-on-year) in April-September,” an official said.