JSW Steel Q4 net profit down 20%; announces JISPL merger with itself

Revenue up 74 per cent YoY to Rs 46,895 crore as company says its opportunities for exports are expanding.

JSW Steel reported on Friday a consolidated net profit of Rs 3,343 crore for the quarter ended March, down 20.23 per cent from the year-ago period on higher raw material cost, lower net sales realisation and an impairment provision. The company’s net profit a year back had stood at Rs 4,191 crore.

JSW recorded an exceptional loss of Rs 741 crore in the quarter, as a subsidiary in the US received a final arbitration order on its dispute with the lessors of a coking coal mining lease and plant lease and a consequential notice of termination of lease. The company