India’s JSW Steel Limited has reported a consolidated net profit of INR 27.73 billion ($332.89 million) in the second quarter (July-September) of the fiscal year 2023-24, against a net loss of INR 9.15 billion ($108.84 million) in the corresponding quarter of the previous fiscal year, a company statement said on Friday, October 20.
The company reported total revenue of INR 445.84 billion ($5.35 billion) up 6.7 percent over the corresponding quarter of the previous fiscal year.
The company said that consolidated crude steel production during the second quarter was 6.41 million mt, up 12.85 percent over the corresponding quarter of the previous fiscal year.
The company plans to increase its group steelmaking capacity by 6.5 million mt in the current year by the expansion of the capacities of JSW Steel Limited’s Vijayanagar steel mill and Bhushan Steel and Power Limited.