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JSW Steel: Forging ahead

Robust volume growth coupled with higher realisations helps boost Q4 profit. Steel producers have been reeling under the pressure of high coking coal prices, after production in Australia’s mines was hit due to a cyclone in January. With raw material prices rising, the market was not betting too much on earnings of steel producers without backward linkages. But JSW Steel has positively surprised the Street with its fourth quarter earnings. Consolidated revenues grew 33 per cent year-on-year and 21 per cent sequentially to Rs 7,280 crore, as volumes jumped 9 per cent to 1.733 Mt. On ...