Major Indian steelmaker JSW Steel (JSW) has announced its financial and operational results for the first quarter ended June 30 of the financial year 2014-15, posting a net profit of INR 8 billion ($130.6 million), compared to a net loss of INR 2.2 billion in the corresponding quarter of the previous financial year. In the given quarter, JSW's sales revenues increased by 23 percent to INR 113.7 billion ($1.8 billion), compared to the same quarter of the previous year.
During the first quarter, JSW Steel produced 3.1 million mt of crude steel, registering an annual growth of eight percent, while achieving finished steel sales of 2.88 million mt, rising by 13 percent year on year.
JSW Steel stated that in the given quarter, the company produced and sold registered 400,000 mt of galvanized and galvalume products, while its iron ore mines in Chile produced 220,000 mt and shipped 330,000 mt of iron ore concentrate during the quarter.