JSW STEEL REPORTED consolidated revenue of ₹41,900 crore in Q3FY24, marking a 7% y-o-y increase and aligning closely with our projected estimate of ₹41,100 crore. The average selling price (ASP) for the quarter reached 69,900/t, reflecting a 2% y-o-y growth and surpassing our anticipated value of 69,664/t by 236/t. The Ebitda for the quarter reached ₹7,200 crore, exhibiting a substantial 58% y-o-y rise and surpassing our estimate of ₹6,600 crore by 9%. The company attributed its strong performance to record dispatches to original equipment manufacturers, the automotive sector, Renewable Energy (RE), and the packaging sector. Additionally, improved operating performance from overseas subsidiaries contributed to the positive results.
However, these gains were partially offset by reduced exports and lower offtake during festive holidays, coupled with higher input costs.
The adjusted profit after tax (APAT) for the quarter was ₹2,300 crore, marking an impressive 366% y-o-y increase and surpassing our estimate of ₹2,100 crore by 9%.
This story is from the January 30, 2024 edition of Financial Express Mumbai.
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This story is from the January 30, 2024 edition of Financial Express Mumbai.
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