New Delhi: Sajjan Jindal-led JSW Steel on Wednesday reported about three-fold jump in its consolidated net profit to Rs2,879 crore for the fourth quarter ended 31 March.
The company had posted a consolidated net profit of Rs1,008 crore in the year-ago quarter, JSW Steel said in a BSE filing.
The consolidated total income of the company increased by 16% to Rs20,862 crore during the quarter under review as against Rs17,973 crore in the corresponding quarter of the previous fiscal. Its total expenses increased to Rs17,275 crore during the fourth quarter of the last fiscal compared to Rs16,578 crore 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% 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 Rs336.65 a scrip on the BSE, up 0.87% from the previous close.