JSW Steel gains 1% after 350% jump in Q2 profit

NEW DELHI: Shares of JSW Steel rose 1.2 per cent in early Mumbai trading on Friday as the company reported an over four-fold jump in consolidated year-on-year net profit to Rs 7,179 crore in the July-September quarter.

At 09:25 hours (IST), the steel producer’s scrip was at Rs 682.05, up 1.18 per cent on the National Stock Exchange.

The strong showing in July-September was primarily on account of higher income and revenues. In the second quarter of the previous financial year, the company had reported a consolidated net profit of Rs 1,595 crore.


The consolidated net profit for July-September which corresponds to a whopping 350 per cent rise from last year is the highest ever for the company.

For the quarter under review, the steel producing giant also posted a record high quarterly revenue from operations – Rs 32,503 crore, as well as the highest ever quarterly operating EBITDA (Earnings Before Interest Taxes, Depreciation and Amortization).

The company’s net sales in July-September were at Rs 31,909 crore, registering a gain of 71 per cent over the last year and 12 per cent sequentially.