JSW Steel Q3 Results: Net profit down 70% to ₹719 crore, shares end higher

Multinational steel producer JSW Steel on Friday posted a net profit of over 70% for the third quarter of the current fiscal year (Q3 FY25) to ₹719 crore mainly due to higher expenses. In the same quarter of the previous year, the company had posted a net profit of ₹2,450 crore, JSW Steel said in an exchange filing.

The company’s total income in Q3 FY25 also declined to ₹41,525 crore from ₹42,134 crore in the year-ago period.

JSW Steel’s expenses rose to ₹40,250 crore during the reporting quarter as compared to ₹38,815 crore in Q3 FY24. Its consolidated capital expenditure (capex) stood at ₹3,087 crore, while its overall capex spend for the April-December period was ₹10,937 crore.

"The Profit after Tax for the quarter was Rs 719 crores after considering an exceptional charge of 103 crores,” the company said in a separate statement.

Shares of the company ended 0.27% higher at ₹932.45 apiece on the NSE. Market capitalisation of the company stands at ₹2,27,904.08 crore.

The company reported revenue from operations of ₹41,378 crore and an operating EBITDA (earnings before interest, taxes and amortisation) of ₹5,579 crore for the reporting quarter. The EBITDA surged by 3% on a sequential basis as the fall in steel price realisations was offset by higher volumes and lower costs primarily coking coal.

For the October-December quarter, net debt of the company stood at ₹80,921 crore, down by ₹1,884 crore from the Q2 FY25 figure, on cash generated from operations and release of working capital.

Consolidated crude steel production for the quarter stood at 7.03 million tonnes, up 2% year-on-year (YoY) and 4% QoQ, JSW Steel said. The company’s capacity utilisation 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.