JSW Steel Q3 net profit rises 62% YoY, but falls sequentially

  • JSW Steel Q3 results: Revenue from operations, meanwhile, rose 74% to 38,071 crore during the reporting period as against 21,859 crore in the same quarter last year.

Livemint
Updated21 Jan 2022, 03:58 PM IST
On Friday, JSW Steel scrip closed 2.30% lower at  <span class='webrupee'>₹</span>666.80 apiece on NSE.
On Friday, JSW Steel scrip closed 2.30% lower at ₹666.80 apiece on NSE.(Bloomberg)

JSW Steel on Friday reported a consolidated net profit of 4,357 crore during the third quarter, up 62% over 2,681 crore reported in the last year period.

Revenue from operations, meanwhile, rose 74% to 38,071 crore during the reporting period as against 21,859 crore in the same quarter last year.

On Friday, JSW Steel scrip closed 2.30% lower at 666.80 apiece on NSE.

The company reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of 9,132 crore during the third quarter, with a margin of 24%.

During the quarter, JSW Steel crude steel production was up 8% quarter-on-quarter to 4.41 million tonnes on a standalone basis, led by an increase in average capacity utilisation to 94% from the existing operations.

Sales of saleable steel for the quarter was 4 million tonnes, higher by 6%, led a by a 29% increase in domestic sales, driven by demand from automotive, solar and appliance sectors.

Exports during the quarter halved to 15% of sales as against 30% of sales in the September quarter.

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First Published:21 Jan 2022, 03:58 PM IST
HomeCompaniesNewsJSW Steel Q3 net profit rises 62% YoY, but falls sequentially

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