JSW Steel Warns of Higher Costs as Profit Triples
JSW Steel warned of rising coking coal costs in the upcoming quarter despite reporting a threefold jump in second-quarter profit. Strong domestic demand helped drive higher sales and revenue for India's largest steelmaker.
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JSW STEEL LTD posted a consolidated net profit of 52.79 billion rupees ($555.86 million) for the quarter ended September 30, more than tripling year-on-year. Revenue rose 20.7% to 544.86 billion rupees in India, beating analyst forecasts. The profit surge highlights robust domestic demand even as raw material costs climb.
