JINDAL SAW PIPES 90% NET PROFIT

JINDAL SAW PIPES 90% NET PROFIT

Mumbai, October 27, 2007 : Jindal SAW Limited, a key player in global energy & water Infrastructure has posted 90% net profit increased over last year for the quarter ended 30th September, 07 as against corresponding quarter in the year 2006.

The higher profitability has been achieved by the Company as a result of improved productivity and bringing more efficiency in the operations in its various business segments including SAW Pipes, Steel Plates, DI and Seamless Pipes.

The Company’s gross turnover increased by app. 25.7% to Rs. 1470 Crores from Rs. 1170 Crores in the corresponding quarter of the previous year. Jindal SAW Limited’s total operating profit (EBITDA) increased by app. 45% to Rs. 170 Crores from Rs. 117 Crores and the PAT has increased to Rs. 90 Crores from Rs. 48 Crores in the same quarter in the previous year.

Part of USD 8 billion Jindal Group, the fourth largest industrial house in India. Having started Large Diameter Submerged Arc Welded pipes (SAW Pipes) operations in 1984 from single product, one single location at Kosi Kalan (Uttar Pradesh in North India) Jindal SAW Ltd. today offers “Total Pipe Solution” spanning continents.