JSW Steel Q4 net profit falls 23 per cent to Rs 3,234 crore

New Delhi [India], May 27 (ANI): JSW Steel Limited on Friday reported a consolidated net profit of Rs 3,234 crore for the quarter ended March 2022, which is 23 per cent lower when compared with Rs 4,198 crore recorded in the corresponding period of last year.

On a sequential basis, the company's net profit is lower by 25.6 per cent. JSW Steel Limited reported Rs 4,357 crore profit during the third quarter of 2021-22.

The company's consolidated revenue during the quarter ended March surged by 74 per cent year-on-year to Rs 46,895 crore as compared to Rs 26,934 crore recorded in the corresponding quarter of last year.

The Company reported the highest ever Crude Steel Production of 5.01 million tonnes, which was higher by 20 per cent year-on-year due to higher capacity utilisation of 98 per cent at the existing facilities and additional production of 0.59 million tonnes from Dolvi Phase-II during the quarter, JSW Steel Limited said in a statement.

Saleable Steel sales for the quarter was 5.11 million tonnes, an increase of 26 per cent year-on-year.

On a standalone basis, the company's revenue from operations stood at Rs 36,011 crore, up by 48 per cent YoY led by higher sales volumes (up 26 per cent YoY), higher value-added steel volume (up 23 per cent YoY) and an increase in net sales realisation (up 23 per cent YoY).

Exports were at 0.87 million tonnes in Q4 FY2022 vs 0.84 million tonnes in Q4 FY2021, JSW Steel said. (ANI)

Source: BUSINESS