Indian steel producer JSW Steel reported a 27% rise in quarterly profit on Tuesday, helped by higher steel sales.
Favourable international markets during the early part of the quarter and an increased domestic demand helped the company to post its highest ever consolidated quarterly saleable steel sales, the steel-maker said.
Total revenue from operations for the quarter jumped about 17% to 168.18-billion rupees, with total saleable steel sales rising 2% to 3.96-million tonnes, it said.
Net profit for the second quarter ending on Sept. 30 rose to 8.39-billion rupees ($129.6-million) from 6.59-billion a year earlier.
Analysts on average had expected net profit of 10.76-billion rupees, according to Thomson Reuters data.
Shares of the Mumbai-based company ended 2.05% lower ahead of the results on the NSE index that lost 0.27%.