Major Indian steelmaker JSW Steel (JSW) has announced its financial results for the fourth quarter ended March 31 of the financial year 2016-17, posting a net profit of INR 10.03 billion ($156.47 million), compared to a net profit of INR 3.67 billion recorded in the corresponding period of the previous financial year. In the given period, JSW's sales revenues increased by 15.56 percent to INR 169.52 billion ($2.64 billion), compared to the same quarter of the previous year.
Meanwhile, for the full financial year, the company announced a net profit of INR 35.77 billion ($557.93 million), compared to a net loss of INR 35.29 billion in the previous financial year. In the given period, JSW’s sales revenues amounted to INR 569.13 billion ($8.87 billion), up 39.3 percent year on year.
For the current financial year of 2017-18, the company expects crude steel production of 16.50 million mt, 4.4 percent higher from the 15.80 million mt recorded in the financial year 2016-17 and a finished steel sales volume of 15.50 million mt, increasing by 4.9 percent from the previous year.