Wednesday, Apr 24 2024 | Time 02:23 Hrs(IST)
image
Business EconomyPosted at: Jan 21 2022 7:10PM


JSW Steel Q3 PAT jumps 69 per cent to Rs 4516 crore

Mumbai, Jan 21 (UNI) Sajjan Jindal-led JSW Steel on Friday reported a 69.2 per cent increase in consolidated net profit for the quarter ended December 31, 2021 at Rs 4516 crore.
The company had reported a PAT of Rs 2669 crore in the corresponding quarter last fiscal.
Its revenues from operations increased to Rs 38,071 crore from Rs 21,859 crore in Q3 FY 2021.
During the quarter, JSW Steel reported consolidated crude steel production of 5.21 million tonnes (excluding the JSW Ispat Special Products joint venture), while the saleable steel sales for the quarter stood at 4.63 million tonnes (excluding JSW Ispat Special Products joint venture).
It registered strong VASP (value-added and special products) volume, driven by increased domestic sales to automotive, solar and appliance segments.
The company’s consolidated net debt to equity (post consolidation of BPSL) stood at 1.02x at the end of the quarter. “This is after incurring capex of Rs 4,026 crores during the quarter and consolidation of BPSL,” it said.
On its ongoing expansion, the company said the 5 MTPA brownfield expansion at Vijayanagar is progressing well, with civil works underway at the site. The project is expected to be completed by FY2024.
The downstream expansion projects at Vijayanagar, Vasind and Tarapur are in advanced stages of implementation, with several lines having been commissioned in 9M FY2022, the company said.
The company’s spent Rs 4,026 crore during Q3 FY2022 in capex taking the total to Rs 10,353 crore for 9M FY2022, against a total planned capex spend of ₹18,240 crore for FY2022. During Q3 FY2022, BPSL incurred a capex of Rs 180 crore.
UNI PSK ACL1910
Please log in to get detailed story.
Tags: #JSW Steel Q3 PAT jumps 69 per cent to Rs 4516 crore
More News
Sensex ends in green; up 89 83 points

Sensex ends in green; up 89 83 points

23 Apr 2024 | 6:58 PM

Mumbai, April 23 (UNI) The stock market on Tuesday opened strong with 400 points up with all-round shopping but paired early gains towards end of the trading hour and closed at 73,738, about 90 points up from its previous close.

see more..

FHRAI seeks govt intervention to utilize increased FAR scheme for hotel industry expansion

23 Apr 2024 | 6:55 PM

New Delhi, Apr 23 (UNI) The apex association of hotels and restaurants FHRAI has approached the Government for resolution of long pending issue of not able to use the provision of increased Floor Area Ratio (FAR) saying this coming in the way to expanding the capacity and new hotel developments in Delhi.

see more..

23 Apr 2024 | 6:22 PM

New Delhi, Apr 23 (UNI) Telecom major Jio Infocomm, a wholly owned by Reliance Industries Limited, has increased its subscriber tally to 470.86 million at the end of December, 2023, up 8.76 per cent from its subscriber base of 432.92 million a year ago.

see more..

Kottayam-Kochi Rubber Market Rates

23 Apr 2024 | 6:11 PM

Kottayam, April 23 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..

Rupee marginally up 3 paise against USD

23 Apr 2024 | 4:37 PM

Mumbai, April 23 (UNI) The Rupee on Tuesday gained three paise to close at 83.34 against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image