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Budget News

  • JSW Steel gains on bagging coal mine blocks in Chattisgarh & Jharkhand
  • March 31,2023  10:24
  • The steel major emerged as preferred bidder under sixth tranche, fifteenth tranche and sixteenth tranche of auction of coal block conducted by Ministry of Coal, Government of India.

    The company has won bids for Jharkhand's Sitanala coking coal block in Jharia coalfield with projected coal resources of 108.85 million tonnes and Parbatpur central coking coal block in Jharia Coalfield with projected coal resources of 235.718 million tonnes. It has also won bids for Chhattisgarh's Banai & Bhalumuda coal block in Mand-Raigar coalfield with projected coal resources of 1376.057 million tonnes.

    JSW Steel ls the flagship business of the diversified, JSW Group, is India's leading integrated steel company with a steel-making capacity of 28.5 MTPA in India and the USA (including capaclties under joint control).

    The company reported 90% drop in consolidated net profit to Rs 474 crore in Q3 FY23 from Rs 4,516 crore in Q3 FY22. Revenue from operations rose by 3% YoY to Rs 39,134 crore during the quarter.

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