JSW Steel records a 30% rise in earnings in Q2 dropping 21%

JSW Steel announced a 29.6% year-on-year (YoY) rise in net profit for the September quarter at Rs 2,917 crore on Wednesday. In the same quarter last year, the steelmaker posted a gain of Rs 2,251 crore.

During the half, the company recognized Rs 512 crore's investment-linked opportunity. It also took into account Rs 2,150 crore's unpaid deferred tax liability. Of the crore of Rs 2,150. It has decided to continue using accumulative MAT deduction unitly with the existing tax structure.

The expected shutdown and rapid correction in steel prices affected total revenues which fell to Rs 15,520 for the quarter by 21 percent YoY. Realization of sales and volume of sales both fell in the quarter.
Operating Ebitda came in for the quarter at Rs 2,796 crore, while the 18 percent margin came in. The company said its margins were hit by the lagged impact of some Prolonged and extreme monsoon impacting operations, Dolvi Works logistics, poor demand climate, sustained light liquidity conditions in quarterly numbers. Sales of salable steel fell to 3.6 million tons by 9 percent YoY. Exports, however, jumped from 68% to 1.09 million tons.

Company :-sst design

User :- nikhil jain

Email :-nikhiljain05685@gmail.com

Url :- http://www.calicometal.net