JSW Steel Share Price Swings After Q4 Profit Surges More Than Twofold
JSW Steel's consolidated revenue for the fourth quarter rose by 8.3% to Rs 44,819 crore.
JSW Steel's share price rose 1.39% on Monday, but soon gave up gains to trade 0.81% lower following the announcement of its fourth quarter results. The company reported significant growth across key financial metrics, exceeding market expectations and showcasing robust performance.
JSW Steel's consolidated revenue for the fourth quarter rose by 8.3% to Rs 44,819 crore, compared to Rs 41,378 crore in the previous quarter. This figure slightly surpassed Bloomberg's estimate of Rs 44,720 crore
The company's earnings before interest, taxes, depreciation, and amortisation saw a notable increase of 14.3%, reaching Rs 6,378 crore from Rs 5,579 crore in the three months ended December. But, this was slightly below Bloomberg's estimate of Rs 6,548 crore.
JSW Steel's net profit saw a jump of 109.6%, amounting to Rs 1,503 crore, compared to Rs 717 crore in the previous quarter. But it was slightly under Bloomberg's estimate of Rs 1,608 crore.
The quarter also saw a reduction in exceptional items, which stood at Rs 44 crore versus Rs 103 crore in the third quarter.
JSW Steel Share Price Today
The scrip rose as much as 1.39% to Rs 1,022.50 apiece before it gave up gains to trade 0.81% lower at Rs 1,000 apiece, as of 10:32 a.m. This compares to a 0.43% advance in the NSE Nifty 50 Index.
It has risen 10.95% in the last 12 months. The relative strength index was at 49.
Out of 34 analysts tracking the company, 19 maintain a 'buy' rating, five recommend a 'hold' and 10 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.6%.
