JSW Steel Ltd reported a nearly five-fold rise in third-quarter profit on Thursday, helped by strong domestic demand.
The company's consolidated net profit rose to Rs 2,415 crore for the quarter ended December 31 from Rs 490 crore a year earlier, according to an exchange filing.
Its steel sales grew 7% to six million tonnes, while crude steel production for the quarter jumped 12% from a year earlier.
Steady infrastructure spending in a pre-election year has propelled India, the world's second-biggest crude steel producer, into one of the fastest growing markets for the alloy globally, even as world demand slackened, analysts said.
Revenue from operations rose 7.2% to Rs 41,940 crore.
On Thursday, JSW Steel's scrip on BSE closed 0.5% higher at Rs 816.45.