JSW Steel Q3 profit slips 29.5% to Rs 329 cr

Written By Unknown on Jumat, 30 Januari 2015 | 20.07

JSW Steel's third quarter consolidated net profit fell 29.5 percent year-on-year to Rs 329 crore, impacted by higher finance cost and lower other income.

Moneycontrol Bureau

JSW Steel 's third quarter consolidated net profit fell 29.5 percent year-on-year to Rs 329 crore, impacted by higher finance cost and lower other income.

Total income of the steel company declined 2.9 percent to Rs 13,223 crore in the quarter ended December 2014 from Rs 13,622.8 crore in the year-ago period.

Operating profit (EBITDA) slipped 4.7 percent year-on-year to Rs 2,296 crore and margin declined 30 basis points to 17.4 percent in the quarter gone by.

Finance cost shot up 18.7 percent on yearly basis to Rs 936.5 crore while other income declined 10 percent to Rs 12.99 crore during October-December quarter.

During the quarter, the company reported crude steel production of 3.17 million tonnes while saleable steel sales volume stood at 3.03 million tonnes (down 2 percent year-on-year).

The scrip of JSW Steel closed at Rs 977.30, down Rs 16, or 1.61 percent on the BSE.


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