Calcutta, May 17: Top private sector steel producer JSW Steel came up with record revenue and profit numbers for 2016-17 on the back of higher sales in the domestic and export markets following the completion of its ongoing expansion. During the fourth quarter, consolidated profit jumped 173 per cent to Rs 1,009 crore from Rs 301 crore in the year-ago period. Revenue went up 53 per cent to Rs 17,917 crore from Rs 11,747 crore. Bulk of the money will be used to double the capacity of the Dolvi plant in Maharashtra to 10 million tonnes by March 2020, taking the total production capacity to 22 million tonnes. For the full year, net profit slid 3 per cent to Rs 65 crore because of forex losses.

Source: The Telegraph May 17, 2017 20:03 UTC