India’s JSW Steel Limited reported a consolidated net profit of INR 43.6 billion ($585 million) during the third quarter (October-December) of the fiscal year 2021-22, up 62.5 percent year on year, a company statement said on Monday, January 24.
The company performance was boosted by a significant improvement in price realization as compared to a year ago and by the benefits of price hikes undertaken over the course of the past few quarters reflected in the operating performance, the statement said.
Total sales volume during the quarter was 3.91 million mt, down one percent from the corresponding quarter of the previous fiscal, the company reported.
The company said that 55 percent of domestic sales were accounted by end-user original equipment manufacturers (OEMs), 30 percent retail sales, and the balance was to the auto manufacturing industry.
$1= INR 74.40