JSW Steel, on Tuesday, reported over 6.5 fold jump in standalone net profit at Rs.762 crore for the quarter ended September 30, 2014, against Rs.101 crore in the same period last year. The gross turnover increased by 5 per cent to Rs.12,996 crore for the said quarter from Rs.12,325 crore. Net sales income also improved by 5 per cent to Rs.11,886 crore from Rs.11,308 crore.
During the quarter, the company has made a provision of Rs.168.32 crore towards carrying value of its investments in US Plate & Pipe mill and also made a provision of Rs.21.20 crore towards cancellation of the allotment of coal blocks. On a consolidated basis, the JSW Steel group for the reviewed quarter posted a profit after taxes and share of profit/(loss) of associates of Rs.749 crore as compared to a net loss of Rs.116 crore for the same period last year.
The gross turnover increased to Rs.14,859 crore from Rs.13,866 crore.
Net sales income increased by 7 per cent to Rs.13,692 crore from Rs.12,796 crore.
Crude steel productionDuring the quarter, the company reported highest ever crude steel production of 3.30 million tonnes while saleable steel sales volume stood at 3.07 million tonnes.
JSW Steel shares closed with a gain of 2.82 per cent at Rs.1,175.65 on the BSE on Tuesday.
