The company had posted a consolidated net profit after tax after share of profit of non controlling interest and share of profits of associates/joint ventures of Rs 56.26 crore in the same period last year.
The consolidated total income from operations increased to Rs 14,420.88 crore in July-September this year, from Rs 11,992.96 crore in the corresponding quarter of previous fiscal, JSW Steel said in a filing to BSE.
"Consolidated Operating EBITDA for the quarter surged by 65 per cent YoY to Rs 2,959 crore," the filing said.
At the same time, saleable steel sales volume increased by 20 per cent Y-o-Y to 3.84 million tonnes as the company increased exports in a seasonally slow period of demand in the domestic markets (due to monsoon).
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affordable to small investors and to boost liquidity, its board of directors approved split of equity shares with a face value of Rs 10 each into 10 equity shares of face value of Re 1 each.
On the outlook, it said that Indian steel demand growth outlook is gradually improving. Government spending data, thrust on renewable energy sector, better credit deployment in the roads sector, higher than budgeted Railway Capex, and robust port traffic growth point towards an improving demand environment.
Normal monsoon and Seventh Pay Commission awards are likely to drive consumer discretionary spending in the on-going festive season, it said.
At the same time, steel prices in Asia and Europe have started moving up in recent weeks-reflecting a movement in raw material prices.