JSW Steel Q3 Profit Soars 5x to Rs 2,450 Cr | Strong Demand
Jan 25, 2024 16:12
JSW Steel's net profit for Q3 FY24 jumped five-fold to Rs 2,450 crore driven by robust domestic demand and increased capacity utilization. Read more.
Photograph: Kind courtesy JSW Steel
New Delhi, Jan 25 (PTI) JSW Steel Ltd on Thursday reported five-fold rise in consolidated net profit at Rs 2,450 crore for December quarter 2023-24, on the back of strong domestic demand.
The company had logged a net profit of Rs 474 crore in the year-ago period, JSW Steel said in a filing to BSE.
Income during the third quarter increased to Rs 42,134 crore from Rs 39,322 crore in the year-ago period.
"The strong performance was driven by capacity utilisation rising to 94 per cent during the quarter vs 89 per cent in Q2 FY24 at the Indian operations," the company said in a statement.
JSW Steel is the flagship business of the diversified, USD 23 billion JSW Group. The group is also into energy, infrastructure, cement, paints, sports, and venture capital.
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