JSW Steel Q2 net profit falls 84% to ₹439 crore

JSW Steel for the second quarter ended September 30, 2024 reported consolidated net profit of ₹439 crore as compared with ₹2,760 crore in the year ago period, down 84%. 

Gross sales income for the quarter fell 11% to ₹39,104 crore as compared with ₹43,834 crore in the same period last year., 

Consolidated crude steel production for the quarter stood at 6.77 million tonnes, up 7% YoY. Capacity utilisation of Indian operations improved 91% during the quarter, the company said in a filing.

“Steel sales for the quarter stood at 6.13 million tonnes, lower by 3% YoY. Domestic sales were up 1% YoY. Sales of retail segment fell by 14% due to elevated imports. Exports fell by 43% due to elevated Chinese exports adversely affecting global markets,” it said.

Published - October 25, 2024 09:06 pm IST