JSW Steel Reports Highest-Ever Net Profits At Rs 7,179 crore in Q2

New Delhi: One of the largest steel companies in the country, Sajjan Jindal-led JSW Steel has reported a net profit worth Rs 7,179 which is the highest net quarterly profit.

The company on Thursday released its results for the July-September quarter where it reported a consolidated net profit of Rs 7,179 crore in the second quarter, which is 350 percent higher than the corresponding month of the previous quarter. Notably, this is the highest profit ever recorded by the company in any quarter. As compare to corresponding quarter of last financial year, the company had made a profit of Rs 1,595 crore.

The company has also earn the highest revenue in this quarter which itself is a record of highest revenue. The revenue from operations of JSW Steel stood at Rs 32,503 crore in the second quarter compare to Rs 19,264 crore in the corresponding quarter of the previous fiscal.

The company also reported its highest consolidated operating profit (EBIDTA) in the same quarter at Rs 10,417 crore.

Following the highest the achievements of the company, the share price of the company has increased by 73.47 percent in the year 2021. At the same time, it has given a return of 107.68 percent in the last one year.

The company said that quarterly sales were impacted by inventory build-up due to its new downstream facilities and increase in inventory at the port.

JSW Steel's EBITDA margin for Q2 was 31 percent. This is primarily due to lower Q1 due to iron ore, coking coal and other major inputs like electricity, natural gas and ferroalloys.

Automobile companies' demand remained blocked due to lack of chips. However, JSW said construction and infrastructure activities are likely to gain momentum in the second half of the current fiscal (October-March).

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