Synopsis
JSW Steel reported net profit of Rs 1,595 crore in the September quarter against a loss of Rs 582 crore in April-June period. And according to Seshagiri Rao, there is a definite reason why.
MUMBAI: Faster-than-expected recovery in the automobile segment helped JSW Steel’s sales to the sector rise almost four times sequentially in the quarter ended September and return to healthy profits, a top official said.“Reason for a good domestic demand is the auto sector,” Seshagiri Rao, joint managing director at JSW Steel, told ET in an interaction. “While everyone was expecting it to take more time for recovery in the auto industry, the
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ET Bureau
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