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New Delhi: JSW Steel on Friday reported a consolidated net profit of RS 838 Crore for the June quarter, after combining the finances of the subsidiary, joint ventures, and partners. This is 85.80 percent lower than the RS 5,904 Crore’s profit reported by steel makers in the same quarter last year.
This was even when the company reported an increase in revenue of 30.89 percent yoy from operations at RS 37,500 against Hospital 28,432 Crore in the same quarter last year.
Ebitda margin for this quarter came at 11.31 percent. The company said the margin fell for the quarter because of the lower sales volume and items once such as the loss of forex loan translation.
Steel sales that can be sold for this quarter reached 4.49 million tons, down 25 percent in sequence disadvantaged by a sharp reduction in exports due to export fees and falling in clear consumption due to destocking at the user level.
JSW Steel said the debt to equity ratio reached 0.98 times at the end of the June quarter compared to 0.83 times at the end of the March quarter. Most of the increase in debt mainly due to locking working capital in inventory, the company told BSE.
