Jindal Steel and Power Ltd (JSPL) on Thursday announced that the company managing director, Bimlendra Jha has resigned from the services of the firm, with effect from the close of business hours of January 31, 2024, citing personal reasons. He will continue to be associated with the company in the capacity of Advisor, it said in a regulatory filing.
“The Company appreciates his valuable contributions during his tenure with the Company as Managing Director,” JSPL said. Meanwhile, Sabyasachi Bandyopadhyay, Wholetime Director, will be assuming the responsibilities of Managing Director, for the time-being.
Sabyasachi Bandyopadhyay has experience of leading diverse functions including operations, steel technology, digitalization, supply chain, strategic sourcing, and sales & marketing, with keen interest in leveraging advanced digital solutions and technology across the steel value chain. “He has rich experience in working with cross-cultural workforce in multiple countries and various steel technologies in global setup. Bandyopadhyay holds a Bachelor’s Degree in Metallurgy form Jadavpur University and is an M-Tech in Extractive Metallurgy from NIT, Durgapur. He has been involved in the Company’s steel business units for over 9 years,” the company said.
Earlier, Jindal Steel and Power reported an almost four-fold rise in third-quarter profit, as easing costs offset a fall in sales. The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 19.28 billion ($232 million) in the three months to Dec. 31, from Rs 5.18 billion a year ago. The robust performance was supported by lower raw material costs as benefits from captive thermal coal mines materialised, it said in a statement. Its sales and services revenue fell 6.3 per cent to Rs 137.56 billion.