Jindal SAW, an Indian pipes manufacturer, has recorded a consolidated profit after tax of INR 5.32 billion ($64.1 million) for Q3 2023, marking a substantial increase from INR 2.14 billion a year ago. The surge is attributed to steady demand in the Middle East and North Africa (MENA) region, with the order book for iron & steel pipes reaching $1.49 billion. Higher exports, improved volumes, and stable raw material prices contributed to margin improvement, countering the impact of domestic steel price fluctuations. Despite geopolitical uncertainties, Jindal SAW anticipates a positive business scenario in the upcoming quarters.
Jindal SAW Reports Over Twofold Growth in Q3 Profit Amidst Robust MENA Demand
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