JSW Steel is looking to acquire coal mines in Africa, US and Canada, as it is planning to increase self-sufficiency in feeding its steel plants. In the domestic market, it plans to bid for iron ore mines in Karnataka after Supreme Court lifted the ban. With this initiative, the company aims to have its own raw material and captive mines.
The company has reported a fall of 23.79% in its net profit at Rs 573.23 crore in Q4FY13 as compared to net profit of Rs 752.18 crore in the same quarter previous year. Total income of the company has decreased by 2.59% to Rs 9344.60 crore as compared to Rs 9593.00 crore in corresponding quarter last year.
