October 25, 2024
New Delhi, India
JSW Steel Q2 Results
JSW Steel reported an 85% decline in net profit for Q2 FY25, down to ₹404 crore from ₹2,773 crore YoY, primarily impacted by an exceptional loss of ₹342 crore and increased taxes.
Key Financial Metrics:
- Revenue: ₹39,684 crore (down 11% YoY)
- EBITDA: ₹5,437 crore, with an EBITDA margin of 13.7% (previously 17.7%)
- Crude Steel Production: 6.77 million tonnes (up 7% YoY and QoQ)
Exceptional Loss
The Q2 results were impacted by an exceptional item of ₹342 crore due to the surrender of the Jajang Iron Ore mine, deemed economically unviable. The Indian Bureau of Mines approved the closure plan on October 9, following which JSW Steel filed for the mining block’s surrender.
Summary
JSW Steel’s Q2 results reflect a challenging economic environment, with lower revenue and margin contraction amid higher tax burdens and the exceptional loss linked to the surrendered mining lease.
Latest Q2 Results
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