JSW Steel Q4 Results: Revenue Meets Estimate, Margin Contracts
JSW Steel's Q4 profit rose 12% to Rs 3,741 crore, as against an estimate of 2,068.51 crore.
JSW Steel Ltd.'s revenue remained flat and its margin contracted in the fourth quarter of fiscal 2023.
The steel-making company reported revenue of Rs 46,962 crore as against Rs 46,895 crore over the same period last year, according to its exchange filing. That compares with a Bloomberg consensus estimate of Rs 44,205.08 crore.
JSW Steel Q4 FY23 Highlights (YoY)
Ebitda declined 13.5% to Rs 7,939 crore, as compared with a forecast of Rs 6,732.61 crore.
Operating margin stood at 17% vs 19.5%. Analysts had estimated it at 15.2%.
Net profit up 12% at Rs 3,741 crore, as against an estimate of Rs 2,068.51 crore.
The board of directors recommended a dividend of Rs 3.4 per share of face value Rs 1 each.
The company's total combined crude steel production rose 8% to 6.77 million tonne.
Shares of JSW Steel closed 0.26% higher before the results were announced on Friday, as compared with 0.41% gain in Nifty50.