10 per cent fall in consolidated net profit at Rs.Global steel demand growth appears to be better than earlier expectations."The June quarter domestic sales volume was impacted by industry wide destocking as customers in general adopted a cautious approach towards carrying inventories in run up to GST rollout," JSW Steel joint managing director and group CFO Seshagiri Rao told reporters here.The steel demand in the domestic market is improving with increasing public sector spending; reflected in increased activity in sectors like roads, power T&D, solar energy, earthmoving equipment, pre-engineered buildings, and water & gas pipelines. Steel imports into India, after correcting in April, have again risen to 8 mmt on annualised basis.Steel demand is on track to grow by 5 per cent in FY18; although sluggish private capex remains ach Wall Breaking Machine Accessories Horoscope IndiaPoliticsCrimeAll IndiaWorldSouth AsiaAsiaMiddle

EastAfricaEuropReviewsEntertainmentBollywoodHollywoodMovie ReviewsTVMusicIn Other NewsPhotosLifeHealthFashionFoodTravehares, revenue, sales, steel production Location: India, Maharashtra, Mumbai (Bombay).The company remained focused on enriching the product mix and sales of value added and special products grew by 12 per cent YoY, primarily due to higher volume of electrical steel, CRCA, galvanised and colour coated products, he said.However, China has positively surprised with a 35 mmt apparent steel demand growth in 1HCY17, driven by fiscal stimulus, against a flattish demand estimate by WSA for CY17.Crude steel production in 1QFY18 increased by 3.626 crore for the quarter ended June 30, hit by higher expenses. It had posted a net profit of Rs 1,120 crore in the year-ago period.The total revenue during the quarter increased sharply by 24 per cent to Rs 15,977 crore, with crude steel production up 1 per cent at 3.5 per cent YoY, whereas apparent finished steel consumption in the quarter grew by 4. Commenting on the outlook, Rao said, global steel production grew by 36 mmt in 1HCY17 as against World Steel Association CY2017 estimate for demand growth of 20 mmt.The company hopes to add 5 MT capacity through organic growth and looking for acquisition opportunities for an inorganic growth, he said.6 per ce\

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