JSW Steel Ltd Q3 Results FY2024, Net profit at Rs.2450 crores

Shreya Anaokar 25th January 2024 - 07:14 pm

On 25th January, JSW Steel Ltd announced its quarterly results.

Key Highlights:

- JSW Steel registered revenue from operations of Rs.41,940 crores
- Operating EBITDA stood at Rs.7180 crores with an EBITDA Margin of 17.1% for Q3FY24.
- The company reported Profit after tax at Rs. 2450 crores.

Business Highlights:

- The quarter's reported 6 million tonnes of steel sales represented a 5% QoQ decrease and a 7% YoY increase.
- 5.27 million tonnes were listed as domestic sales.
- A 20% QoQ decline in exports of 0.55 million tonnes occurred on softened international markets, accounting for 9% of sales from Indian businesses.
- Construction on all packages for the 5MTPA brownfield expansion at Vijaynagar is under underway, and the project is moving along nicely.
- Phase-II expansion at BPSL (from 3.5 MTPA to 5 MTPA) is going well and is anticipated to be finished in FY24.
- The 0.12 MTPA color-coated steel mill at JSW Steel Coated Products Ltd. in Jammu and Kashmir is anticipated to begin commissioning operations in Q1FY25.
- In Q3FY24, the company spent Rs. 5103 crores in India and Rs. 5253 crores overall on capital expenditures. In India, capital expenditures for 9MFY24 totaled Rs. 12898 crores and Rs. 13249 crores when consolidated.