JSW Steel Q1 profit nearly triples to Rs 2,428 crore

JSW Steel on Friday posted about three-fold jump in net profit at Rs 2,428 crore for June quarter 2023-24 on account of higher income.

It had posted Rs 839 crore net profit in the corresponding period of 2022-23, JSW Steel said in a regulatory filing.

Total income also rose to Rs 42,544 crore from Rs 38,275 crore in the year-ago quarter, it said.

Expenses were at Rs 39,030 crore as against Rs 36,977 crore earlier.

JSW Steel is the flagship business of diversified JSW Group, which has presence in sectors such as energy, infrastructure, cement, paints, sports, and venture capital.

The company's board at its meeting held on Friday appointed Swayam Saurabh as Chief Financial Officer designate, it said.