BENGALURU, July 21 Reuters India39;s JSW Steel Ltd reported a firstquarter profit on Friday that nearly tripled, helped by higher sales on the back of a pickup in infrastructure activity.

Consolidated net profit climbed to 24.28 billion Indian rupees 296 million in the quarter ended June 30 from 8.39 billion rupees a year earlier, when the results were impacted by a tax on steel exports.

While overall steel sales jumped 27 from a year ago, JSW Steel said it also reported increased price realisations due to higher export prices.

Investment activity is picking up as reflected in the healthy expansion in steel and cement consumption, the company said in a statement, adding that India39;s finished steel consumption rose 10.2, while crude steel production grew 8.4, yearonyear.

JSW Steel also said operating costs for its Indian operations were lower yearonyear due to lower coal, power and fuel costs.

Revenue from operations for the country39;s largest steelmaker by capacity rose 10.8 to 422.13 billion rupees.

The export tax was scrapped in November after complaints from miners and steelmakers.

Still, the company39;s profit dropped sequentially by 25 in the June quarter due to lower sales volumes and the higher cost of iron ore, one of the raw metals used for making steel.

Exports also were impacted by delayed loading due to a cyclone on India39;s western coast towards the end of the quarter, JSW Steel added.

The steel benchmark on the Shanghai Futures Exchange fell…