Boosted by robust global demand and a healthy margin, JSW Steel reported 16% growth in its net profit at Rs 833 crore for the quarter ended March over the same period last year. It witnessed a strong 37% growth in its turnover amounting to Rs 7,615 crore in the quarter.
"Global steel markets are looking better with a projected 6% growth and the Indian steel industry is likely to grow by 12%," said Sajjan Jindal, vice-chairman and managing director of JSW Steel on Monday.
India's largest private sector steel producer maintained a healthy margin of 23.2% driving up their profits this year.
"This was the first quarter that we had a say in the Ispat board and we have already turned it around," Jindal added.