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JSW Steel Q3 results: Consolidated net profit rises 69% to Rs 4,516 cr

JSW Steel Q3 results: Consolidated net profit rises 69% to Rs 4,516 cr

The company's revenue from operations rose 74 per cent to Rs 38,071 crore during the quarter in review as compared to Rs 21,859 crore in the same quarter last fiscal.

JSW Steel Q3 results JSW Steel Q3 results

JSW Steel on Friday reported a 69 per cent year-on-year (YoY) rise in consolidated net profit at Rs 4,516 crore in the quarter ended 31 December, 2021. The company had posted a profit of Rs 2,669 crore in the year-ago period.

The company's revenue from operations rose 74 per cent to Rs 38,071 crore during the quarter in review as compared to Rs 21,859 crore in the same quarter last fiscal.

The company reported an operating EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 9,132 crore, with a margin of 24% in the quarter ended 31 December, 2021.

During the quarter in review, JSW Steel reported crude steel production of 4.41 million tonnes, an increase of 8 per cent QoQ, led by an increase in average capacity utilization to 94 per cent from the existing operations, and production of 0.18 million tonnes from the recently commissioned Dolvi Phase-2 expansion, the company said in a regulatory filing.

Sales of Saleable Steel for the quarter was 4.00 million tonnes, higher by 6 per cent sequentially, led by a 29 oer cent increase in domestic sales, driven by demand from automotive, solar and appliance sectors. Exports were moderated to 15 per cent of sales during Q3FY2022 as against 30 per cent of sales in Q2 FY2022. 

On Friday, shares of JSW Steel closed 2.23 per cent lower at Rs 666.65 apiece on BSE.