Tata Steel on Wednesday posted a profit of Rs 10,187.23 crore for the quarter ended March 31, 2018 against a consolidated loss of Rs 725.14 crore in the corresponding quarter past year.
The company received one-time exceptional gain of Rs 11,376.14 crore in March quarter.
"We have chose to expand our capacity from 18 mt (million tonne) to 24.7 mt, which includes addition of one mt at Vijaynagar and 0.67 mt at Dolvi unit, and also expand our downstream projects by 2020", he said.
The company's net debt stood at Rs38,019 crore at the end of FY18; net debt-to-equity ratio was 1.38.
The cumulative capital expenditure pipeline over the next three years will be Rs39,715 crore.
A Reuters poll of 10 analysts estimated the company to report a consolidated net profit of Rs 1,893 crore and revenue to increase to Rs 19,556 crore.
The total consolidated income of the company increased to Rs 364 billion in January-March 2018 from Rs 354.5 billion in the same quarter of 2016-17. It also reported a decline of about 5.9 percent in total steel deliveries for the fourth quarter, while domestic deliveries slipped 5.6 percent to 3.03 million tonnes.
The company expects Indian steel consumption to grow roughly 7% in FY19, with demand growing fastest within the automotive and appliances sectors.
Commenting on the guidance, Rao said the company is looking at a 3 per cent jump in steel production at 16.75 mt and 2.5 per cent increase in sales at 16 mt in FY19.
JSW Steel is a part of the diversified JSW Group, which has presence in steel, energy, infrastructure, cement and JSW Ventures.
"We also successfully completed a $2bn Rights Issue, one of the largest equity issuance in India", he said.The shares of the company closed at Rs 622.05 apiece on the BSE, down 0.32% from the previous close.