JSW Steel Q2 net jumps 226 pc to Rs 346.30 crore

Mumbai, Oct 19 (UNI) Steel major JSW Steel Ltd has posted a net profit of Rs 346.30 crore for the quarter ended September 30 this year as compared to Rs 106.29 crore for the corresponding period a year ago, a jump of 225.80 per cent.

Announcing the results, the company said its total income (net of Excise) has increased from Rs 1,551.98 crore for the same period last year to Rs 2,202.97 crore for the quarter ended September 30.

Announcing the outlook for the current fiscal, the company said the manufacturing sector in the last quarter showed a robust growth of over 11 per cent, while the steel prices have shown some weakness in the last few weeks due to increased volume of exports from China.

The strong demand from other countries such as Russia and Middle East has cushioned this impact, bringing stability in prices. In this scenario, the prices were expected to be stable barring short term corrections.

UNI SN SSS SKB2012