JSW Steel reports 52 times rise in consolidated Q1 net profit; shares surge

By: | Updated: July 27, 2016 3:49 PM

On a standalone basis, JSW Steel posted net profit of Rs 1082.41 crore against Rs 113.10 crore in the same quarter last year.

JSW Steel bse sensexJSW Steel shares jumped 5 per cent intraday after the company reported 52 times rise in consolidated net profit at Rs 1,109 crore for the quarter ended June 30, 2016 against net profit of Rs 21.19 crore in the corresponding quarter a year ago. (Photo: AP)

JSW Steel shares jumped 5 per cent intraday after the company reported 52 times rise in consolidated net profit at Rs 1,109 crore for the quarter ended June 30, 2016 against net profit of Rs 21.19 crore in the corresponding quarter a year ago. Total income of operations of the company jumped 1.88 per cent to Rs 12885.81 crore against Rs 12647.35 crore in the corresponding quarter a year ago.

At 3.20 pm, shares of the company were trading 4.80 per cent up at Rs 1,739. The scrip opened the day at Rs 1,666.05 and has touched a high and low of Rs 1,762 and Rs 1,666.05, respectively, in trade so far. Sensex was up 68 points at 28,035.69.

Diluted earnings per share of the company jumped to Rs 45.88 for the quarter ended June 30, 2016 against Rs 0.88 in the same quarter a year ago.

On a standalone basis, JSW Steel posted net profit of Rs 1082.41 crore against Rs 113.10 crore in the same quarter last year. Income from operations of the company jumped to Rs 11907.90 crore against Rs 11066.90 crore in the corresponding quarter last year.

Later, shares of the company closed 4.75 per cent up at Rs 1,738.30.

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