Major Indian steelmaker
JSW Steel (JSW) has announced its financial and operational results for the fourth quarter ended March 31 of the financial year 2013-14, posting a net profit of INR 4.62 billion ($78.4 million), up 40.8 percent year on year. In the given quarter, JSW's sales revenues increased by 43 percent to INR 140.8 billion ($2.4 billion), compared to the same quarter of the previous year.
JSW Steel stated that it has received necessary approvals for the expansion at its Dolvi plant to enhance capacity from 3.3 million mt per year to 5 million mt per year. The estimated cost of the expansion project is INR 33 million ($560 million). The new production capacity will be commissioned in September 2015.