Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

JSW Steel posts strong results for Q1 of 2018-19

Steel News - Published on Thu, 26 Jul 2018

Image Source: JSW
JSW Steel’s net profit in the June quarter increased almost four times to INR 2,339 crore against INR 624 crore logged in the same period last year, on the back of higher production and better realization. Sales were up 24 per cent at INR 19,950 crore (INR 16,048 crore). Consolidated EBITDA per tonne of steel sold almost doubled to INR 13,570 (INR 7,732), while on standalone basis it was INR 12,580 (INR 6,269) on the back of better performance by the US and other subsidiary companies in India. Saleable steel output was up 9 per cent at 3.83 million tonnes in the quarter with sales in high margin automotive sector increasing 54 per cent.

Consolidated Results Q1FY19
DescriptionQ1FY19YoY (%)
Revenue2051936
EBITDA510595.1
EBITDA Margin (%)24.9754
Net Profit (adjusted)2339274.8
 

In INR Crore


Production and sales for JSW Steel Coated Products stood at 0.43mn tonnes each. Revenue and EBITDA for the quarter stood at INR 3,031 crore and INR 122 crore respectively. Margin for coated products was impacted by higher raw material prices.

During the quarter the company saw major developments regarding its inorganic expansion plans. They are:

Monnet Ispat and Energy Ltd – The resolution plan submitted by the Aion-JSW consortium has been approved by the NCLT with certain modifications and the written order is awaited.

Acero Junction Holdings Inc – The company completed acquisition of 100% shareholding in Acero Junction Holdings Inc. The company plans to start operations by October 2018. The capacity of Acero Junction is expected at ~4mn tonnes per annum.

Aferpi – The company has concluded the acquisition of 100% shares of Aferpi S.p.A., Piombino Logistics S.p.A. and 69.27% of the share capital of GSI Lucchini S.p.A. in Italy. This 1.3 MTPA rolling facility is expected to commence operations by the next quarter.

Source :

Posted By : Ratan Singh on Thu, 26 Jul 2018
Related News from Steel segment