Jindal Stainless Limited, a leading stainless steel manufacturing company in India, has reported its financial results for Q3 FY23. The company’s revenue stood at ₹6,349.71 crore, which represents an increase of 12% compared to the same period in the previous year. This strong growth was driven by increased demand for the company’s stainless steel products. Net income for the quarter was ₹298.56 crore, a decrease of 32.4% compared to the third quarter of the previous year. Earnings per share was ₹5.98, a decline of 28.5% compared to the same period in the previous year.
The company lowered its debt to equity ratio to 0.53 from 0.69 year on year. This is a positive indication of the company’s ability to effectively repay its debt. However, the current ratio decreased to 0.95 from 1.13 over the same period.