JSW Steel Q4 net profit jumps 3-fold to Rs 28.79 billion

Sajjan Jindal-led JSW Steel on Wednesday reported about three-fold jump in its consolidated net profit to Rs 28.79 billion for the fourth quarter ended March 31.

The company had posted a consolidated net profit of Rs 10.08 billion in the year-ago quarter, JSW Steel said in a BSE filing.

The consolidated total income of the company increased by 16 per cent to Rs 208.62 billion during the quarter under review as against Rs 179.73 billion in the corresponding quarter of the previous fiscal.

Its total expenses increased to Rs 172.75 billion during the fourth quarter of the last fiscal compared to Rs 165.78 billion in the year-ago period.

The company said it "achieved its highest ever crude steel production for the quarter at 4.31 million tonnes , up 5 per cent year-on-year. The company also achieved highest ever quarterly sales volume of 4.22 MT aided by robust domestic demand".

JSW Steel is a part of the diversified JSW Group, which has presence in steel, energy, infrastructure, cement and JSW Ventures.

It is the leading integrated steel company in India with an installed steel-making capacity of 18 million tonne per annum (MTPA).

The shares of the company closed at Rs 336.65 a scrip on the BSE, up 0.87 per cent from the previous close.