JSW Steel Q1 net profit up 65 percent

July 26th, 2011 - 10:14 pm ICT by IANS  

Mumbai, July 26 (IANS) JSW Steel Tuesday posted 65 percent increase in net profit at Rs.578.32 crore for the quarter ended June 30 as against Rs.350.27 crore during the same period of the previous financial year.

Net sales stood at Rs.7,064.57 crore during the quarter under review, up 52 percent as compared to Rs.4,646.9 crore during the same period last year, the company said in a regulatory filing.

The company also said that its crude steel production during the quarter rose by 7 percent to 16.84 lakh tonnes while saleable steel rose by 44 percent to 17.14 lakh tonnes.

At the Bombay Stock Exchange, the shares of the company closed 1.22 percent lower at Rs.583.55.

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