JSW Steel profit dips on raw material, fuel costs

Written by fe Bureau | Updated: Jan 28 2011, 09:01am hrs
Costlier raw material and rise in fuel costs have eaten into JSW Steels third quarter profit with the steel maker reporting a 25.65% dip in net profit to Rs 382.30 crore even though sales touched a record. The Sajjan Jindal-led firm, which clocked its highest-ever quarterly sales during the period at 1.593 million tonnes on enhanced production at its Vijaynagar facility, had reported Rs 514.23 crore net profit in the same quarter last fiscal. Though JSWs production was at 1.636 million tonnes, up 11% over the corresponding quarter, its expenses on raw material and fuel went up more than 38% to Rs 3,898.79 crore.

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