JSW Steel witnessed a 62% decline in consolidated net profit for the quarter ending March 2024, with profits falling to Rs 1,322 crore. Despite this, the company reported a significant growth of 116% in net profit for FY24, reaching Rs 8,793 crore, alongside record-high revenues. The firm’s focus on expansion continued with the approval of the acquisition of Minas de Revuboe Limitada (MDR), a premium hard coking coal mine project in Mozambique. MDR boasts mineral reserves exceeding 800 million tonnes and is anticipated to bolster JSW Steel’s global presence.
JSW Steel Reports Drop in Quarterly Profit, Eyes Mozambique Acquisition
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