JSW Steel Q4 net profit up on strong demand

JSW Steel Q4 net profit up on strong demandJSW Steel registered an increase of 32% in its Q4 total sales to Rs 7,209.35 crore upon the robust domestic demand as well as continuous focus on retail sales. However, the net spending witnessed the bottom line of the company going up at a less-than-proportional rate.

JSW Steel’s Q4 (January-March) total profit went up by 30% to reach Rs 794 crore. According to the steel maker, an improved product-mix along with increased quantities was the main reason behind the strengthened performance of the company in the final quarter of the fiscal year 2010-11.

JSW Steel's total finance cost for the fiscal year 2011 had come down following the company’s pre-paid portion of its loans, as well as because of the interest income having profited from investment of the excess funds. This witnessed the company's weighted aggregate interest cost of debt coming down to 7.58 per cent from the 8.08% as on March 31 of last year.

According to the company, it is also going to commission a further 10 million tonne steel plant in the upcoming quarter at a Vijaynagar site, and that it is also aiming for a steel output at 9 million tonne for the fiscal year 2012.

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