JSW Steel's net profit rises to Rs 4,191 cr in Q4

New Delhi: JSW Steel on Friday posted a manifold jump in its consolidated net profit to Rs 4,191 crore for the quarter ended March 31, and said it will spend over Rs 25,000 crore on projects in Odisha, Karnataka and Jammu & Kashmir. The company had clocked a net profit of Rs 188 crore in the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing.

Its total income in January-March 2021 jumps to Rs 27,095 crore, compared with Rs 18,009 crore in the year-ago period.

Total expense rose to Rs 20,752 crore, against Rs 17,056 crore a year ago. On a standalone basis, JSW Steel's net profit grew to Rs 4,018 crore, from Rs 242 crore a year ago.

The standalone total income during the said quarter was at Rs 24,593 crore, higher from Rs 15,423 crore in the same period of financial year 2019-20.

The expenses were at Rs 18,256 crore as against Rs 15423 crore in the year ago period.

In a separate statement, JSW Steel said the profit, both on standalone and consolidated basis, is its "highest-ever net profit after tax (PAT)".

The debt has come down by Rs 858 crore to around Rs 15,000 crore during 2020-21, the company said. In January-March 2021, the company produced 4.19 million tonnes (MT) of crude steel, registering a six per cent year-on-year rise.