BENGALURU, May 13 (Reuters) - India's Jindal Steel & Power (JNSP.NS) New Tab, opens new tab reported on Monday a fourth-quarter profit that doubled from a year earlier as input costs declined.

Consolidated profit after tax for the steelmaker increased to 9.33 billion rupees (around $112 million) in the three months to March 31, from 4.66 billion rupees a year ago.

Its net revenue fell 1.4% to 135.21 billion rupees on lower steel prices, making this tycoon Naveen Jindal-led steelmaker's smallest revenue fall in five quarters.

The company's input costs eased nearly 15% to 52.65 billion rupees in the period.

Jindal Steel's commissioned coal mines continued to help offset high costs of iron ore and coking coal, key raw materials for steelmakers, analysts said.

Its shares settled 1% higher ahead of results, compared with a 1.3% gain in the Nifty metal index (.NIFTYMET) New Tab, opens new tab.

JSW Steel (JSTL.NS) New Tab, opens new tab, Jindal Steel's bigger rival and a part of the same group, will report quarterly earnings later this week.

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https://www.reuters.com/markets/commodities/indias-jindal-steel-posts-q4-profit-jump-costs-ease-2024-05-13/