JSW Steel Q1 PAT drops 64% YoY to Rs 867 crore

JSW Steel reported 64.29% decline in consolidated net profit to Rs 867 crore in Q1 FY25 as compared with Rs 2,428 crore posted in same quarter last year.

Revenue from operations rose 1.73% year on year (YoY) to Rs 42,943 crore in the quarter ended June 2024.

Profit before tax stood at Rs 1,380 crore in first quarter of FY25, down 60.34% from Rs 3,480 crore recorded in Q1 FY24.

Operating EBITDA stood at Rs 5,510 crore in Q1 FY25, down 21.79% from Rs 7,046 crore posted in same quarter last year. EBITDA margin was 12.8% during the quarter.

Consolidated crude steel production for the quarter stood at 6.35 million tonnes, lower by 6% QoQ and lower by 1% YoY. Capacity utilization at the Indian operations was 87% during the quarter due to planned maintenance shutdowns at Dolvi & BPSL.

Steel sales for the quarter stood at 6.12 million, lower by 9% QoQ but higher by 7% YoY. Domestic sales at 5.31 million tonnes were higher by 3% QoQ and by 14% YoY.

Sales volume of OEM & Industrial segment increased 18% and Retail sales grew by 8% YoY. Exports fell 29% YoY and constituted 10% of sales from Indian operations for the quarter.

Guidance for FY25, the company expects total combined volumes to be production of 28.40 million tones and sales of 27 million tonnes saleable steel. Growth for 2025 is expected to hold steady at 3.3%, marginal upgrade from its April forecast of 3.2%. Inflationary pressures are easing measures. Geopolitical risks necessitate monitoring, particularly their potential impact on supply chains, energy costs and inflation.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The scrip shed 4.36% to end at Rs 889.55 on Friday, 20 July 2024.

Powered by Capital Market - Live News