JSW Steel's net profit plunges 70% to Rs 717 crore in October-December quarter

Sajjan Jindal-led JSW Steel connected Friday reported a 70 per cent year-on-year diminution successful nett net to Rs 717 crore for the October-December 4th of the existent fiscal year, compared to the corresponding fig of Rs 2,450 crore for the aforesaid 4th of the erstwhile fiscal year.

The alloy major's gross from operations declined by implicit 1 per cent year-on-year to Rs 41,378 crore for the 3rd quarter.

The institution recorded its highest-ever quarterly crude alloy accumulation astatine 7.03 cardinal tonnes during the period. Saleable alloy income stood astatine 6.71 cardinal tonnes.
Earnings earlier interest, tax, depreciation, and amortisation (EBITDA) came successful astatine Rs 5,579 crore for the quarter, according to its quarterly filing.

JSW Steel's equilibrium expanse remains stable, with a nett debt-to-equity ratio of 1.00x and a nett debt-to-EBITDA ratio of 3.57 times.

The diminution successful alloy prices owed to the summation successful inexpensive imports flowing into the state from countries specified arsenic China and Vietnam has impacted the bottomline.

Steel imports remained elevated successful Q3, adjacent though it declined 10.8 per cent QoQ to 2.83 cardinal tonnes (MT).

However, for the archetypal 9 months of FY25, imports accrued 16.7 per cent year-on-year to 8.21 cardinal tonnes. Exports successful Q3 grew 44 per cent quarter-on-quarter to 1.82 MT, portion exports for 9 months of FY25 fell 16.5 per cent to 4.58 MT, the institution said.

Consequently, India remained a nett importer of alloy successful Q3 arsenic good for the archetypal 9 months of FY25. To code rising alloy imports, the Director General of Trade Remedies (DGTR) has initiated commercialized Investigations including safeguard and anti-dumping probes which are ongoing, the institution connection added.

In Q3 FY25, India's crude alloy accumulation roseate by 3.5 per cent year-on-year to 37.38 MT. Steel depletion grew by 6.8 per cent year-on-year to 38.46 MT, witnessing immoderate slowdown compared to the 13.6 per cent maturation successful H1.

A betterment successful authorities capex is expected to assistance maturation successful the alloy assemblage during the adjacent quarter.