JSW Steel has bettered our expectations in second quarter FY10. JSW Steel has reported sales of Rs 45.5 bn (up by 7% (YoY)), an EBIDTA of Rs 11.4 bn (improved by 5% (YoY)) and PAT of Rs 4.5 bn (an impressive growth of 42% (YoY)). The EBIDTA margins corrected, marginally, by 47 bps on annual basis.
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