JSW Steel posts multi-fold rise in Q3 profit to ₹2,669 crore on higher realisation
January 22, 2021
The proportion of higher margin value-added and special steel sales increased to 57 per cent in this quarter - REUTERS
The proportion of higher margin value-added and special steel sales increased to 57 per cent in this quarter - REUTERS×
Sales revenue grows 23% to ₹21,487 crore
JSW Steel has reported that its net profit in December quarter increased multi-fold to ₹2,669 crore against ₹187 crore in the same period last year due to higher realisation.
Sales revenue was up 23 per cent at ₹21,487 crore (₹17,416 crore). Despite paying mining premium and royalty of ₹3,604 crore (₹197 crore), the overall expenses were up only two per cent at ₹18,210 crore (₹17,719 crore) as the raw material and finance costs dipped to ₹8,652 crore (₹ 9,177 crore) and ₹997 crore (₹1,060 crore).