Business EconomyPosted at: Jan 24 2025 7:15PM


JSW Steel net profit plunges 71 pc to Rs 719 crore in Q3

New Delhi, Jan 24 (UNI) Billionaire Sajjan Jindal-led JSW Steel on Friday reported a 70.65% year-on-year decline in consolidated net profit to Rs 719 crore in the October-December quarter (Q3) of the current financial year 2024-25 (FY25).
The steel major had posted a profit of Rs 2,450 crore in the December quarter of the previous financial year 2023-24.
JSW Steel's revenue from operations during the Q3 of FY25 stood at Rs 41,378 crore as compared to Rs 41,940 crore in the same period a year ago, thus registering a 1.34% decline year-on-year (YoY).
At 7.03 million tonnes (MT), the consolidated crude steel production of the company in the December quarter of the current financial year was higher by 2% year-on-year and 4% quarter-on-quarter (QoQ).
"Capacity utilization at the Indian operations was 91% during the quarter. Steel sales for the quarter stood at 6.71 million tonnes, higher by 12% YoY and 10% QoQ," JSW Steel said in a media release.
Net debt of the company as of 31st December 2024 stood at Rs 80,921 crores, lower by Rs 1,884 crores as against 30th September 2024, on cash generated from operations and release of working capital.
"At the end of the quarter, net gearing (net debt to equity) stood at 1.00x as against 1.01x at the end of Q2 FY25, and leverage (net debt to EBITDA) stood at 3.57x, as against 3.41x at the end of Q2 FY25," JSW said.
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