Millennium Post

JSW Steel suffers 29% decline in quarterly net

JSW Steel's net profit declined by 29.48 per cent to Rs 328.94 crore on a consolidated basis in the October-December quarter of the current fiscal.

The company had reported Rs 466.49 crore net profit in the corresponding quarter of the previous fiscal. "JSW Steel recorded gross turnover and net sales of Rs 14,026 crore respectively for the quarter. The company reported an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of Rs 2,296 crore," the company said in a statement.

For the nine months of the current fiscal ending December 31, 2014, the company posted a net profit of Rs 1,734 crore.

It had reported a net loss of Rs 30.88 crore in the corresponding quarter of the previous fiscal.
"Gross turnover and net sales for the nine month stood at Rs 43,038 crore and Rs 39,686 crore, respectively, both showing a growth of 9 per cent on YOY basis.
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