MUMBAI May 17 India's JSW Steel Ltd
fourth-quarter profit more than tripled, helped by higher steel
prices and volumes and government support for local mills.
The company, which has the highest local steel manufacturing
capacity, reported a consolidated total profit of 10.09 billion
rupees ($157.41 million) for the three months ended March 2017
as against 3.01 billion rupees a year ago.
Analysts had, on average, estimated the steelmaker to post a
profit of 7.76 billion rupees, according to Thomson Reuters
Revenue from operations rose 52.5 percent on year to 179.17
billion rupees as the company ramped up production from
newly-built capacity at its flagship plant in the southern state
($1 = 64.1000 Indian rupees)
(Reporting by Promit Mukherjee; Editing by Biju Dwarakanath)