JSW Steel has announced its results for the quarter ended September 2010. It has reported consolidated net profit at Rs 373 crore as against Rs 323 crore, a growth of 15.48% on year-on-year basis (YoY).
Consolidated net sales jumped 24.9% to Rs 5,908 crore from Rs 4,730 crore. Other income increased to Rs 163 crore from Rs 1 crore.
JSW Steel will issue 3.08 million global depositary receipts (GDRs) to JFE on preferential basis.
The company suspended operations of UK unit on weak economic growth. Its India arm will buy plant and machinery of UK unit.
In a press conference, JSW Steel said volume growth led to higher revenue. The company has reduced inventory by 1.28 lakh tonne in Q2.
Source: www.moneycontrol.com
Thanks,
Gaurav agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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