JSW Steel Q1 cons net profit soars 64%

JSW Steel announced the following unaudited results for the quarter ended June 30, 2011:

Standalone results:

The net profit of the company surged by 65.10% to Rs578.32 crore for the quarter ended June 30, 2011 as compared to Rs350.27 crore for the quarter ended June 30, 2010.

Total income increased by 51.41% to Rs7086.26 crore for the quarter ended June 30, 2011 from Rs4680.24 crore for the quarter ended June 30, 2010.

Consolidated results:

The net profit of the group rose by 64.26% to Rs485.16 crore for the quarter ended June 30, 2011 as compared to Rs295.37 crore for the quarter ended June 30, 2010.

Total income increased by 53.47% to Rs7455.67 crore for the quarter ended June 30, 2011 from Rs4858.09 crore for the quarter ended June 30, 2010.

At 3.05 pm, JSW Steel was trading at Rs874, up by 0.55%, with a volume of 4.22 lakh shares on the BSE.