Jai Balaji Ind Q2 result: PAT falls 24% to Rs 153 cr, proposes stock split

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Jai Balaji Ind Q2 result: PAT falls 24% to Rs 153 cr, proposes stock split - Business Standard

Quick Summary:

Post-tax profit of Jai Balaji Industries, manufacturer of ductile iron (DI) pipes, TMT bars, ferro alloys and sponge iron, declined 24.01 per cent at Rs 153.16 crore during the second quarter ending September 2024, as against Rs 201.55 crore in the similar quarter the previous fiscal.

Chairman and managing director of Jai Balaji Aditya Jajodia told reporters on Tuesday that the decline in net profit during the quarter had been due to a provision for deferred tax of an amount of Rs 60 crore.

The company's board also proposed a stock split of its equity shares of face value of Rs 10 each paid up into five equity shares of face value of Rs two each.