JSW Steel records higher-than-expected net profit of Rs 17.74 bn in Dec qtr

Increased exports, higher long product sales lends support to topline

Sajjan Jindal-led JSW Steel reported a higher-than-expected consolidated net profit of Rs 17.74 billion in the December quarter, a surge of 148 per cent compared to the corresponding period last year, mainly on the back of increased revenues and one-time exceptional item benefit of Rs 3.08 billion.

The company's topline in the period under review stood at Rs 176.69 billion, up 17 per cent from same period last year as exports which formed 30 per cent of total sales volume lent firm support along with sales of long products that grew significantly due to increased construction activity in the country.