JSW Steel reports 30% YoY jump in Q2 profit at Rs 2,917 crore; revenue falls 21%

NEW DLEHI: JSW Steel on Wednesday reported a 29.6 per cent year-on-year (YoY) rise in net profit at Rs 2,917 crore for the September quarter. The steelmaker had reported Rs 2,251 crore profit in the same quarter last year.

The company has recognised an investment-linked incentive of Rs 512 crore during the quarter. Besides, it took into account an outstanding deferred tax liability of Rs 2,150 crore. It has decided to continue with the existing tax structure unitl utilisation of accumulative MAT credit.

Planned shutdown and a sharp correction in steel prices hurt total revenues which fell 21 per cent YoY to Rs 15,520 crore for the quarter. Sales realisation and sales volume both fell for the quarter.


Operating Ebitda came in at Rs 2,796 crore for the quarter while margin came in at 18 per cent. The company said its margins were hit by lagged pricing impact of certain key raw material like coal

Prolonged and severe monsoon impacting operations, logistics at Dolvi Works, weak demand environment, sustained light liquidity conditions hut the quarterly numbers. Salable steel sales fell 9 per cent YoY to 3.6 million tonnes. Exports though jumped 68 per cent to 1.09 million tonnes.