JSW Steel Ltd.'s fourth-quarter profit declined by over 60%, missing analysts' estimates.
The steel producer's net profit fell 64.7% year-on-year to Rs 1,322 crore in the quarter-ended March 2024, according to an exchange filing issued on Friday. This compares with the Rs 1,661-crore consensus estimate of analysts polled by Bloomberg.
Revenue from operations dropped 1.5% to Rs 46,269 crore during the period, though it beat estimates.
JSW Steel Q4 FY24 Highlights (Consolidated, YoY)
Revenue down 1.5% to Rs 46,269 crore (Bloomberg estimate: Rs 44,676 crore).
Ebitda declined 22.9% to Rs 6,124 crore (Bloomberg estimate: Rs 7,939 crore).
Ebitda margin narrows to 13.2% vs 16.9% (Bloomberg estimate: 13.8%).
Net profit down 64.7% to Rs 1,322 crore (Bloomberg estimate: Rs 1,661 crore).
The board has recommended a dividend of Rs 7.3 per share.
Shares of JSW Steel closed 2.36% higher at Rs 907.30 apiece on Friday, as compared with a 0.34% rise in the BSE Sensex. The results were announced after market hours.
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