JSW Steel reports profitable Q3 with operational revenue of Rs 337 bn

24 Oct 2023 CW Team

In a recent regulatory disclosure, the JSW Steel reported its financial performance for the quarter ending September 30. The operational revenue for this period amounted to Rs 337.38 billion, showing a slight decrease from Q2FY23's Rs 344.94 billion. However, the company managed to achieve a net profit of Rs 29.13 billion, a significant improvement from the net loss of Rs 910 million.

This positive result was attributed to increased volumes, although it was partially offset by reduced sales realisation. One of the key factors contributing to this success was the company's lower material cost, which decreased from Rs 187.97 billion in the same period of the previous year to Rs 162.11 billion during this quarter.

During this reviewed quarter, the company demonstrated its robust production capabilities by manufacturing 5.4 million tons of steel.

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