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JSW Steel Q4 profit rises to Rs1,009 crore on higher prices

LiveMint logoLiveMint 17-05-2017 Promit Mukherjee

Mumbai: India’s JSW Steel Ltd fourth-quarter profit more than tripled, helped by higher steel prices and volumes and government support for local mills.

The company, which has the highest local steel manufacturing capacity, reported a consolidated total profit of Rs1,009 crore ($157.41 million) for the three months ended March 2017 as against Rs301 crore a year ago.

Analysts had, on average, estimated the steelmaker to post a profit of Rs776 crore, according to Thomson Reuters data.

Revenue from operations rose 52.5% on year to Rs17,917 crore as the company ramped up production from newly-built capacity at its flagship plant in Karnataka.Reuters

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