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Jindal Steel and Power posts profit after 14 quarters

India’s Jindal Steel and Power Ltd posted its first profit in 15 quarters on Thursday and beat analysts’ estimates, helped by higher iron and steel sales.Net profit was � crore ($26.37 million) in the quarter ended 30 June, compared with a loss of � crore a year ago. Analysts were expecting a profit of � crore, according to Thomson Reuters I/B/E/S.Jindal Steel and Power’s steel sales rose 40% in the quarter to 1.61 million tonnes, the company said.While global growth outlook for steel remained robust, the US-China trade spat poses some risk, the company added.

  • India’s Jindal Steel and Power Ltd posted its first profit in 15 quarters on Thursday and beat analysts’ .....

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