Loading Ticker...
You Are Here: Home » Infrastructure

JSW Steel Reports Net Profit Of Rs. 752 Cr; L&T Posts 14% Increase In Q4 Net

Mining is definitely among the most widely done business all over the world but is not doing quite good in our environment which is why most of its operations are band.

This is among the problems faced by JSW steel which had experienced some problems with delivering iron-ore from Karnataka and Goa for there is a state-wide ban on mining and also with an increase in the raw material cost of their production.

JSW Logo Jindal Steel

JSW

This led to a small decrease in their net profit for the fourth-quarter getting only Rs 752 crore compared to their Rs 833 crore profit last year.

But, this did not discourage the company since they are still eyeing on an increase in their net profit in the year 2013. The company forsee a 7.5 per cent rise in their domestic steel demand according to Chairman and Managing Director of the group, Mr Sajjan Jindal.

Adding to the problems that the company is facing is a mining scandal in Karnataka, but they are firm in stating that they are not involved in any illegal mining said Mr Jindal.

Larsen Toubro L&T Logo

Larsen Toubro (L&T)

L&T also had some problems with their expected performance for last year. They were expecting an increase in their net for up to 25 per cent, but what the company had achieved for the last year was only 21 per cent.

Not that bad since the company still had an increase. According to their financial director Mr R. Shankar Raman, more things will be sorted out this year in order to get the net projection they are after.


Share this post

Subscribe to our updates via e-mail or get our  RSS Feed
Enter your email address:


Other Related Stories: