JSW Steel on Wednesday reported a net profit of Rs 2,560 crore for the quarter ended September 30. That marked an increase of 20.41 per cent compared to the corresponding period a year ago. Revenue from operations however fell 18.47 per cent to Rs 17,572 crore in the second quarter of current financial year, as gross sales shrank 19.88 per cent to Rs 16,737 crore.
The steelmaker said its finance costs came in at Rs 1,127 crore in the July-September period, as against Rs 963 crore in the year-ago period.
JSW Steel shares rose as much as 2.23 per cent to Rs 224.50 apiece on the BSE after the earnings announcement before ending with a gain of 1.39 per cent at Rs 222.65, outperforming the benchmark Sensex index which rose 0.24 per cent.