JSW Steel Ltd reported a fivefold jump in profit for the December quarter, surging ahead of analysts' expectations, while its board approved raising ₹2,000 crore to repay loans and for capital expenses.
The Sajjan Jindal-led company's net profit for the third quarter increased to ₹2,415 crore from ₹490 crore in the same year-earlier period. Consolidated revenue from operations rose 7.17% year-on-year to ₹41,490 crore, benefiting from the government's thrust on infrastructure spending that boosted domestic demand for the alloy.
Analysts had expected JSW Steel to post a profit of ₹2,170 crore for the December quarter on revenue of ₹42,774.5 crore, as per a Bloomberg survey.
The JSW Steel board also approved a plan to raise ₹2,000 crore by way of private placement or public issue of non-convertible debentures to service short-term maturity loans and for other capital expenditure requirements, the company said in a statement "The board has approved the raising of long-term funds subject to applicable regulatory approvals and market conditions, through issuance of secured/un-secured, redeemable, non-convertible debentures not exceeding ₹2,000 crore...,"JSW Steel said in a statement.
この記事は Mint Mumbai の January 26, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint Mumbai の January 26, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
7 myths about ADHD and how to handle it
Some adults with ADHD are misdiagnosed as having anxiety or depression as myths prevail even in the medical community
Why women bear the brunt of misdiagnosis
Girls are half as likely as boys to be diagnosed correctly as having ADHD, show studies
At these international marathons, it's ready, steady, swig
Can running and drinking go together? From France to Scotland, here are five races where running is a merry party
Indian IT firms should brace for Trump's second term
Restrictive visa, trade and other policies under Trump 2.0 may force a review of their US-centric business models
Freebies don't offer a long-term solution but let us not ban them
Keeping citizens dependent on handouts is not fiscally sustainable. India needs a transparent framework to regulate them
Is Nvidia's chief dreaming of selling us R2-D2-like robots?
It may turn out to be a good bet if the chip-maker keeps its risks low
Two ways the EPFO can get itself an image boost
India's state-run retirement fund would do itself a favour by resolving its high level of claim rejections and speeding up interest payments. Its digital makeover should signal efficiency
Forex card vs debit card: How to lower cross-border markup fees
Unlike debit cards, forex cards are not linked to your bank account, limiting your exposure to fraud and theft
India must reassess its rejection of the RCEP trade bloc
Joining it can work in our favour as global trade barriers get reshaped and value chains are forged
Armed hostility between Israel and Iran is very likely to escalate
Israel senses a high-risk high-return chance to reshape West Asia that Trump might green-light