JSW Steel posts profit of Rs 5,900 crore in Q1

New Delhi: JSW Steel on Friday posted a consolidated net profit of Rs 5,900 crore for June quarter 2021-22, mainly on account of higher income.

In the year-ago period, the company reported a consolidated net loss of Rs 582 crore, JSW Steel said in a BSE filing.

Total income during the quarter under review jumped to Rs 29,100 crore from Rs 11,914 crore in the same period of the preceding financial year.

Expenses were at Rs 20,804 crore as against Rs 12,504 crore a year ago.

In a separate statement, JSW Steel said it produced 4.10 million tonne steel during the quarter under review and sold 3.61 MT steel. India was impacted by the second wave of the pandemic during April and May 2021.

The decline in cases from June, with an aggressive vaccination push has brightened the near-term prospects of the Indian economy, the

company said