JSW steel Limited clocks a net profit of Rs 413.25 cr

Mumbai, Apr 30 (UNI) Part of O P Jindal group, JSW Steel Limited has posted its highest ever net profit of 133 per cent at Rs 413.25 crore for the fourth quarter 2006-07 compared to Rs 410.68 crore in the corresponding quarter previous year and the company has also announced a dividend of Rs 12.50 to its shareholders.

The net sales for the quarter stood at Rs 2498.54 crore showing a growth of 57 per cent. The cumulative net profit for the fiscal was Rs 1292 crore compared to Rs 856.53 crore in the previous year.

The company will initiate the number of new projects in the current fiscal which includes cold rolling mill one MTPA complex. The company has also enetered into share purchase agreement to acquire 100 per cent stake in Argent Independent Steel Ltd, UK.

JSW Steel Limited has diversified interest in mining, carbon steel, power industrial gases and port facilities.

UNI