JSW Steel Q3 Net Profit Falls 88% On Beleaguered Exports, Revenue Up Nearly 3%
Premium- JSW Steel Q3 Results: The steelmaker reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹4,030 crore during the quarter under review, with a margin of 13%
JSW Steel, the country's largest steelmaker by capacity, on Friday reported a 88% decline in consolidated net profit for the December quarter profit at ₹490 crore, hurt by lower exports. It was ₹4,357 crore in the year-ago period.
Brokerages expected the steelmaker to post a 80-90% decline in consolidated profit after tax at ₹426.70 crore in the quarter ended December.
Revenue from operations, meanwhile, rose 2.7% to ₹39,134 crore during the quarter under review as against ₹38,071 crore in the same quarter last year.
The steelmaker reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹4,030 crore during the quarter under review, with a margin of 13%.
Total income during the October-December quarter of the ongoing fiscal rose to ₹39,322 crore from ₹38,225 crore a year ago.
Expenses were also higher at ₹38,288 crore as against ₹31,986 crore.
Part of the O P Jindal Group, JSW group has a presence in sectors such as steel, energy, infrastructure, cement and sports.
JSW Steel is among India's top six steel making companies.
On Friday, JSW Steel scrip closed 2.25% lower at ₹742.95 apiece on the NSE.
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