Nagpur: Jayaswal Neco Industries Ltd, a Nagpur-based steelmaker, reported a net profit of Rs 229.81 crore for the quarter ended Sept 30, against Rs 105.13 crore in the same quarter a year earlier. The company said in a filing to the stock exchanges on Friday that its board approved the unaudited results for the quarter and half year.Revenue from operations for the quarter was Rs 2,194.46 crore, against Rs 1,781.00 crore a year earlier. Profit before tax was Rs 307.45 crore, against Rs 142.71 crore. Finance costs fell to Rs 61.57 crore from Rs 112.32 crore.For the half year ended Sept 30, net profit stood at Rs 423.73 crore, against Rs 198.15 crore a year earlier. Revenue from operations for the six months was Rs 4,301.02 crore, against Rs 3,430.35 crore.The steel segment accounted for Rs 2,061.28 crore of the quarter’s segment revenue and the iron and steel castings segment for Rs 141.20 crore, as per the segment information filed with the results.The filing noted that on Oct 1, after the quarter ended, the company allotted 2,24,39,134 warrants, each carrying a right to subscribe to one equity share of face value Rs 10, at Rs 89.13 each, to a private firm on a preferential basis. The issue aggregates Rs 200 crore, and the warrants may be exercised in one or more tranches within 18 months of allotment. The company received 25% of the consideration, Rs 50 crore, during the quarter.
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