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JSW swings to net profit of 7.30B Indian rupees in Q3'17

JSW Steel Ltd. swung to a consolidated net profit of 7.30 billion Indian rupees for the third quarter of its fiscal 2017, from a net loss of 7.09 billion rupees posted in a year-ago period.

Net consolidated profit for the nine months ended Dec. 31, 2016, totaled 25.66 billion rupees, compared to a year-ago net loss of 6.32 billion rupees, the company said Jan. 31.

On a stand-alone basis, the company's crude steel output and sales rose 43% year over year to 3.86 million tonnes and 3.64 million tonnes, respectively.

For the nine months ended Dec. 31, 2016, steel output grew 25% on a yearly basis to 11.70 million tonnes, while sales rose 22% to 10.82 million tonnes.