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JSW Steel Q3 Profit Jumps Five-Fold To Rs 2,450 Crore
The group is also into energy, infrastructure, cement, paints, sports, and venture capital.
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File Photo New Delhi: JSW Steel Ltd on Thursday reported a five-fold rise in consolidated net profit at Rs 2,450 crore for the December quarter 2023-24, on the back of strong domestic demand.
The company had logged a net profit of Rs 474 crore in the year-ago period, JSW Steel said in a filing to BSE. Income during the third quarter increased to Rs 42,134 crore from Rs 39,322 crore in the year-ago period. (Also Read: Riding The Billions: Meet Indian Tycoon Whose Company Powers Luxury Giants BMW, Mercedes Benz, Rolls Royce And Net Worth Is Rs...)
"The strong performance was driven by capacity utilisation rising to 94 percent during the quarter vs 89 percent in Q2 FY24 at the Indian operations," the company said in a statement. (Also Read: Azim Premji Gifts Rs 500 Crore Worth Wipro Shares To Sons Rishad And Tariq)
JSW Steel is the flagship business of the diversified, USD 23 billion JSW Group. The group is also into energy, infrastructure, cement, paints, sports, and venture capital.
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