JSW Steel’s net falls 1.35 percent

October 26th, 2010 - 6:20 pm ICT by IANS  

New Delhi, Oct 26 (IANS) Steel manufacturer JSW Steel Ltd Tuesday reported a marginal decline of 1.35 percent in its net profit for the second quarter of the current fiscal, which stood at Rs.445.44 crore as compared to Rs.451.54 crore for the quarter ended Sep 30, 2009.

While the total income of the company increased by 29.69 percent to reach Rs.5,939.28 crore in the second quarter from Rs.4,579.28 crore in the like period of 2009.

According to the company, its net sales in the second quarter grew 25 percent, its highest ever at Rs.5,712.84 crore as against Rs.4,553.88 crore in the second quarter of 2009.

The company said it had pre-paid loans worth Rs.2,330 crore in the quarter ended Sep 30, and it was planning to further pre-pay Rs.570 crore in the third quarter.

The consolidated results of the diversified group reported an increase of 16 percent in its net profit at Rs.373.26 crore from Rs.322.75 crore in the second quarter of 2009.

The total income also grew by 28 percent and stood at Rs.6,135.57 crore for the quarter ended Sep 30 as compared to Rs.4,756.54 crore in the like period of last year.

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