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Our Bureau

New Delhi, May 27 Jindal Steel and Power Ltd reported a 141 per cent growth in consolidated net profits for the financial year 2008-09.

Net sales nearly doubled to Rs 10,844.28 crore for the year ended March 31, 2009.

The company’s production of power grew by 48 per cent to 1325.33 (million kWh) over the previous financial year.

For the year, sponge iron sales had fallen by five per cent due by volume to higher captive consumption, while production was up by 5 per cent.

On a standalone basis the company reported a 24 per cent growth in net profits at Rs 1,536 crore. Net sales were up 42 per cent to Rs 7,646 crore.

Shares of the company closed at Rs 2,081 a share up 2.8 per cent higher on the Bombay Stock Exchange.

More Stories on : Financial Performance | Steel

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