JSW Steel’s net profit rises in FY 2018-19

Monday, 27 May 2019 12:27:37 (GMT+3)   |   Istanbul
       

Major Indian steelmaker JSW Steel (JSW) has announced its financial and operational results for the fourth quarter and the full financial year ended March 31, 2019.

In the fourth quarter, JSW Steel posted a net profit of INR 17.45 billion ($250.8 million), down 21.9 percent compared to the same quarter of the previous financial year. In the March quarter this year, JSW's net sales declined by 2.3 percent year on year to INR 197 billion ($2.84 billion). 

For the full financial year 2018-19, JSW Steel reported a net profit of INR 82.6 billion ($1.2 billion), up 78.6 percent compared to the previous financial year, while its net sales increased by 13.3 percent year on year to INR 767.3 billion ($11.03 billion). 

During the fourth quarter, JSW produced 4.17 million mt of crude steel, down three percent, while achieving finished steel sales of 4.29 million mt, rising by two percent, both on year-on-year basis. Meanwhile, in the full financial year, the company’s crude steel output amounted to 16.7 million mt, up three percent, while its finished steel sales increased by one percent to 15.8 million mt, both year on year.


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