JSW Steel reports highest-ever profit at Rs 4,198 cr in Q4, up 1717% YoY

Revenue from operations came in at Rs 26,934 crore for the quarter under review, an increase of over 50 per cent year-on-year

JSW Steel reported over 1,700 per cent year-on-year increase in consolidated net profit at Rs 4,198 crore for the March quarter (Q4FY21), the highest ever quarterly net profit posted by the company, aided by strong domestic demand supplemented by exports and improved steel prices. It was Rs 231 crore in the corresponding quarter of the pervious year (Q4FY20).

The company also reported its highest ever quarterly revenue from operations at Rs 26,934 crore for the quarter under review, an increase of over 50 per cent from Rs 17,887 crore in the same period last year.

The Board has recommended a dividend of Rs 6.5 per equity share for the financial year ended March 31, 2021.

The operating profit or EBITDA for the March quarter at Rs 8,440 crore. The company said its debt has come down by Rs 858 crore even after spending on capex expenditure and acquisitions aggregating to around Rs 15,000 crore during FY 2021.

JSW Steel's scrip was marginally up (0.37 per cent) in afternoon trade at Rs 697.10 on NSE.