JSW Steel's Profit Dips Amid Rising Costs: A Deep Dive into Q3 Financials

JSW Steel reported a 70% decline in net profit to Rs 719 crore in Q3, attributed to increased expenses. Total income slightly decreased and steel production saw modest growth. Despite challenges, EBITDA rose by 3% QoQ due to better volumes and reduced costs.

JSW Steel has announced a significant decline in its net profit for the December quarter, attributing a 70% drop to Rs 719 crore primarily to higher operational expenses. This marks a notable downturn compared to the Rs 2,450 crore profit recorded in the same quarter last year.

The total income for the third quarter decreased to Rs 41,525 crore from the previous year's Rs 42,134 crore. However, expenses surged to Rs 40,250 crore from the Rs 38,815 crore recorded in the corresponding period of the previous fiscal year, impacting the company's financial health.

Despite financial headwinds, JSW Steel reported improvements in certain areas. The company posted a 3% quarter-on-quarter increase in EBITDA, thanks to increased production volumes and reduced costs, predominantly in coking coal. Steel sales reached 6.71 million tonnes, reflecting a 12% year-on-year rise. Additionally, crude steel production reached 7.03 million tonnes.

(With inputs from agencies.)