JSW Steel's arm records 12% growth, profit up by Rs 21 cr in FY17

JSWSPCL was set up as a steel service centre with an annual slitting capacity of 6.5 lakh tonnes

JSW Steel Processing Centres Limited (JSWSPCL) has registered a growth of over 12 per cent by processing 5.41 lakh tonnes of the commodity in 2016-17 financial year.

The company, a wholly owned subsidiary of JSW Steel, had processed 4.81 lakh tonnes (LT) of steel in the preceding financial year.

JSWSPCL was set up as a steel service centre with an annual sitting capacity of 6.5 lakh tonnes, JSW Steel said in its annual report for 2016-17.

"The company registered a profit after tax for 2016 -17 of Rs 21 crore compared to Rs 14 crore in 2015-16," it said.

The flagship of over $11 billion JSW group, JSW Steel is one of India's leading integrated steel manufacturers with a capacity of 18 mtpa.