JSW Steel Q3 PAT up 62.51% at Rs4,357cr on higher volumes and steel prices

23 Jan 2022 , 06:33 PM

JSW Steel Ltd reported 74.17% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs38,071cr. On a sequential basis, the revenues were higher for the quarter by 17.13%.

During the quarter, JSW Steel saw 3% higher flat rolled volumes and a -3% fall in long rolled volumes. Overall volumes stood at 4.41 MT for the quarter with saleable steel at 4MT.

The spurt in output was led by higher capacity utilization which now stands at 94%. During the quarter JSW hiked its stake in Bhushan Power & Steel to 83.28%

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 62.51% at Rs4,357cr on higher volumes and revenues. However, on a sequential basis, the net profits were down -39.23% due to a spike in the price of coking coal and power.

Operating EBITDA for the quartered tapered sequentially to Rs6,797cr implying 23.6% EBITDA margins. Net margins tapered from 12.26% in the Dec-20 quarter to 11.44% in the Dec-21 quarter. However, net margins were sharply lower sequentially, due to the sharp spike in key input costs.

Financial highlights for Dec-21 compared yoy and sequentially

	JSW Steel
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 38,071	₹ 21,859	74.17%	₹ 32,503	17.13%
Net Profit (Rs cr)	₹ 4,357	₹ 2,681	62.51%	₹ 7,170	-39.23%
Diluted EPS (Rs)	₹ 18.02	₹ 11.09		₹ 29.67
Net Margins	11.44%	12.26%		22.06%