JSW Steel Q3 net up 160% at Rs 362cr

JSW Steel has posted 160% increase in net profit at Rs 362.15 crore for the quarter ended December 31, 2006 (Q3FY07) when compared with Rs 139.20 crore for Q3FY06.

According to an official release issued by the company to the BSE today, total income has increased to Rs 2307.85 crore for Q3FY07, from Rs 1525.15 crore for Q3FY06.

According to the company's outlook, it estimates growth in global crude steel consumption in 2007 at 5.2% vis-a-vis 4.9% growth in production. The expected slow down in exports from China coupled with strong growth in demand in emerging economies signals stable price scenario with upward bias. Robust growth in the Indian economy is expected to stimulate steel demand further.