JSW Steel Q2 Results Live: Profit Falls by 84.09% YOY
JSW Steel Q2 Results Live: Revenue decreased by 10.99% YoY & profit decreased by 84.09% YoY.
JSW Steel Q2 Results Live : JSW Steel has released its Q2 results on October 25, 2024, revealing a significant downturn in both revenue and profit. The company reported a topline decrease of 10.99% year-over-year, alongside a staggering 84.09% drop in profit compared to the same quarter last year.
In comparison to the previous quarter, JSW Steel's revenue fell by 7.59%, while profits decreased by 48.05%. These figures highlight ongoing challenges in the steel market, as the company faces various economic pressures.
The company also noted a slight decline in selling, general, and administrative expenses, which decreased by 2.24% quarter-over-quarter but increased by 11.21% year-over-year. This indicates that while the company is managing some costs, overall expenses remain elevated compared to last year.
Operating income saw a notable drop as well, down 14.33% from the previous quarter and 56.2% year-over-year, further underscoring the tough conditions JSW Steel is navigating.
Earnings per share (EPS) for Q2 came in at ₹2.52, which is a decline of 74.59% compared to the same quarter last year, suggesting a substantial impact on shareholder returns.
In terms of market performance, JSW Steel has recorded a -2.18% return over the past week, a 5.77% return over the last six months, and an 8.84% return year-to-date. Currently, the company has a market capitalization of ₹233735.8 Cr, with a 52-week high of ₹1063 and a low of ₹723.
As of October 26, 2024, out of the 29 analysts covering JSW Steel, opinions are mixed. Three analysts have given a Strong Sell rating, five have recommended a Sell, five suggest holding, while ten analysts have rated the stock as Buy, and six as Strong Buy.
The consensus recommendation as of October 26, 2024, is to Hold, reflecting a cautious outlook as the company works to stabilize its operations amid challenging market conditions.
JSW Steel Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 39684 | 42943 | -7.59% | 44584 | -10.99% |
| Selling/ General/ Admin Expenses Total | 1220 | 1248 | -2.24% | 1097 | +11.21% |
| Depreciation/ Amortization | 2267 | 2209 | +2.63% | 2019 | +12.28% |
| Total Operating Expense | 36856 | 39642 | -7.03% | 38128 | -3.34% |
| Operating Income | 2828 | 3301 | -14.33% | 6456 | -56.2% |
| Net Income Before Taxes | 789 | 1380 | -42.83% | 4585 | -82.79% |
| Net Income | 439 | 845 | -48.05% | 2760 | -84.09% |
| Diluted Normalized EPS | 2.52 | 3.45 | -27.01% | 9.91 | -74.59% |
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First Published:26 Oct 2024, 10:13 AM IST
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