JSW Steel posts q1 profit for Q 3
The company had posted a profit of Rs 2,669 crore in the year-ago period.
The company's revenue from operations rose by 74 per cent to 38,071 crore during the quarter in review 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 December 31, 2021.
The company said in a regulatory filing that JSW Steel reported crude steel production of 4.41 million tons, 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 tons from the recently commissioned Dolvi Phase 2 expansion.
Sales of saleable steel for the quarter was 4.00 million tonnes, up by 6 per cent sequentially, led by a 29 oer cent increase in domestic sales, driven by demand from the automotive, solar and appliance sectors. Exports were trimmed to 15 per cent of sales during Q 3 FY 2022, compared to 30 per cent of sales in Q 2 FY 2022.
The shares of JSW Steel fell 2.23 per cent to Rs 666.65 apiece on the BSE on Friday.