Jai Balaji Industries Limited (JBIL) in India, a prominent manufacturer of rebar, steel ductile pipes, and steel bars, announced a significant turnaround in its financial performance. In the fourth quarter (January-March) of the fiscal year 2023-24, the company reported a net profit of INR 2.729 billion ($32.89 million), marking a notable improvement from a net loss of INR 130.83 million ($1.57 million) in the same quarter of the preceding fiscal year. This positive development was highlighted in the company's statement released on Friday, April 26.During the quarter, JBIL recorded a total income of INR 20.018 billion ($241.18 million), reflecting a 14.70 percent increase compared to the previous year. For the entire fiscal year 2023-24, the company's net profit stood at INR 8.795 billion ($105.97 million), showing a 1.421 percent rise year-on-year. The total income for the fiscal year was reported at INR 68.288 billion ($822.75 million), representing a 7.60 percent growth over the previous fiscal year.