JSW Steel Q1 PAT up 64%, boosted by higher sales

Moneycontrol Bureau

JSW Steel has reported a jump of 64% growth in its April-June quarter profit at Rs 405, on the back of strong steel demand and higher prices. Going forward, growing concerns about cost pressures and falling prices could cloud earnings, say analysts.
Net sales shot up 54% to Rs 7,432 crore from Rs 4,818 crore year-on-year. CNBC-TV18 poll saw net profit at Rs 410 crore and net sales at Rs 6,800 crore ahead of the result announcement.
Seshagiri Rao, joint managing director and group CFO said,