JSW Steel net profit declines 70% to ₹719 crore in Q3
The Hindu
JSW Steel reports 70% fall in net profit to ₹719 crore in December quarter due to higher expenses.
JSW Steel on Friday (January 24, 2025) reported over 70% fall in consolidated net profit to ₹719 crore in December quarter, mainly due to higher expenses.
It had posted a net profit of ₹2,450 crore in the year-ago quarter, the company said in an exchange filing.
Total income during the latest third quarter also trimmed to ₹41,525 crore from ₹42,134 crore a year ago.
The company increased its expenses to ₹40,250 crore during the reporting period from ₹38,815 crore in the third quarter last fiscal.
The company's consolidated capital expenditure (capex) during the third quarter of current fiscal was ₹3,087 crore, while its overall capex spend for April-December period stood at ₹10,937 crore.
In a separate statement, the company said, "The Profit after Tax for the quarter was ₹719 crores after considering an exceptional charge of 103 crores."
The company's revenue from operations stood at ₹41,378 crore and its operating EBITDA (earnings before interest, taxes and amortisation) at ₹5,579 crore during the quarter.
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