Renowned steel manufacturer Jindal Steel and Power (JSPL) is looking forward to borrow around R6, 000-8,000 crore during the next six months, as part of its expansion policy for various projects. During a conference call, organized soon after company announced its results, the Chief Financial officer, Sushil Maroo, has notified the reporters that it has a debt of R13,000 crore .

"There are two main reasons for it. First the input cost has gone up, whereas the steel prices remain almost same. Secondly, our three power plants that are in the... phase of stabalisation. They will stabilise in the next quarter and start adding to our margins”, added Maroo.

The steel major has claimed stand-alone net profit of Rs. 470.16 crore for first quarter, a significant hike of 8%, as compared to Rs. 435.69 crore for the quarter ended June 30 last year. In addition, it has reported revenue of Rs. 2,543.18 crore, significant deviation from Rs. 2, 127.80 crore in the year-ago quarter, an increase of 20%.

On Thursday, Jindal Steel and Power notified a marginal decline in its quarterly profit. The company shares have rolled down more than 4% and warned that FY12 may not be a very good year as high interest rates and inflation has frightened a majority of consumers.