JSW Steel net rises 16% to Rs 833 cr in Q4 | business | Hindustan Times
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JSW Steel net rises 16% to Rs 833 cr in Q4

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.

business Updated: May 16, 2011 20:46 IST
HT Correspondent

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.