JSW Steel Q2 Results FY2024, Net profit at Rs.2773 crores

Shreya Anaokar 20th October 2023 - 06:27 pm

On 20th October 2023, JSW Steel announced its quarterly results.

Key Highlights:

- Revenue from Operations at Rs.44,584 crores grew by 3% during the quarter.
- Operating EBITDA was at Rs.7886 crores, up by 12% QoQ driven by higher sales volume and lower coking coal cost. EBITDA margin at 17.7%
- Profit after tax for the quarter at Rs. 2,773 crores, up by 14% QoQ.

Business Highlights:

- Crude Steel production for the quarter stood at 6.34 million tonnes, drop by 1% QoQ and up by 12% YoY.
- JSW Steel took certain maintenance shutdowns at Indian operations during the quarter.
- Steel sales was reported at 6.34 million tonnes during the quarter.
- Domestic sales at 5.49 million tonnes, up by 8% driven by strong domestic demand.
- 5 MTPA brownfield expansion at Vijaynagar is progressing with Civil works underway at site.
- JSW Steel Coated Products Ltd, the colour coated steel line in Jammu & Kashmir of 0.12 MTPA will be completed by Q4FY24.
- Phase-II expansion at BPSL is expected to be completed by end of FY24.