JSW Q3 Net dips 29 pc to Rs 328.94 crore

JSW Steel's net profit declined by 29.48 per cent to Rs 328.94 crore on a consolidated basis in the October-December quarter of the current fiscal.
The company had reported Rs 466.49 crore net profit in the corresponding quarter of the previous fiscal.
"JSW Steel recorded gross turnover and net sales of Rs 14,026 crore respectively for the quarter. The company reported an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of Rs 2,296 crore," the company said in a statement.
For the nine months of the current fiscal ending December 31, 2014, the company posted a net profit of Rs 1,734 crore.

It had reported a net loss of Rs 30.88 crore in the corresponding quarter of the previous fiscal.
"Gross turnover and net sales for the nine month stood at Rs 43,038 crore and Rs 39,686 crore, respectively, both showing a growth of 9 per cent on YOY basis. The operating EBITDA for the nine month was Rs 7,720 crore, up by 16 per cent on year-on-year (YoY) basis.

During the quarter, the Company reported crude steel production of 3.17 million tonnes (MT) while Saleable Steel sales volume stood at 3.03 MT.
On standalone basis JSW Steel recorded gross turnover and net sales for the quarter of Rs 12,368 crores and Rs 11,310 crores, respectively.

"The company reported an operating EBITDA of Rs 2,117 crores and EBITDA margin stood at18.4 per cent. Net profit after Tax stood at Rs 415 crores for the quarter. The Company has made a provision of Rs 101.61 crores during the quarter towards carrying value of its investment in US Plate & Pipe mill, which is considered as exceptional in nature," it said.
Gross turnover and net sales for the nine month stood at Rs 37,765 crores and Rs 34,566 crores, respectively, both showing a growth of 7 per cent on YoY basis.
The shares of the company closed at Rs 977.30 a scrip, down 1.61 per cent from previous close on the BSE.