JSW Steel Q4 results: Net profit jumps to Rs 4,191 crore

24 May 2021 CW Team

JSW Steel has posted a year-on-year jump in consolidated net profit at Rs 4,191 crore for the quarter ended March 31. It is the highest ever quarterly net profit reported by the company, supported by strong domestic demand developed by exports and improved steel costs.

JSW Steel, in a BSE filing, stated that the company had estimated a net profit of Rs 188 crore in a similar quarter of the previous financial year.

Total revenue in January-March 2021 increased to Rs 27,095 crore, corresponding with Rs 18,009 crore in the year-earlier span.

Total expense increased to Rs 20,752 crore, against Rs 17,056 crore the year earlier. Independently, JSW Steel’s net profit grew to Rs 4,018 crore from Rs 242 crore the preceding year.

The Board has approved a share of Rs 6.5 per equity share for the financial year ended March 31, 2021.

The operating profit or EBITDA for the March quarter at Rs 8,440 crore. The company stated its debt has decreased by Rs 858 crore even after paying on CapEx expenditure and acquisitions accumulating to about Rs 15,000 crore during FY 2021.

JSW Steel, a subsidiary of JSW Group, is a $13 billion Indian steel manufacturer based in Mumbai. It is one of the fastest growing companies in the country, with a global footprint in more than 140 countries. After the merger of Ispat steel, JSW Steel has become India's second-largest private sector steel company.

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Also read: India’s fastest growing steel companies in 2020: CW Survey

Also read: JSW Steel completes Bhushan Power and Steel acquisition

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