NEW DELHI: JSW Steel, the largest steel manufacturer in the country, reported a net profit of Rs 5,900 crore on a consolidated basis during the first quarter against a loss of Rs 582 crore in the same quarter last year. On a quarter-on-quarter basis, the profits showed a 41% increase.
The company reported total consolidated income of Rs 29,100 crore in first quarter of 2021-22, showing a 144% jump year-on-year, largely due to higher steel prices. It registered highest ever quarterly revenue from operations of Rs 28,902 crore and highest ever operating EBITDA of Rs 10,274 crore, with an EBITDA margin of 35.5%.
On a standalone basis, JSW Steel posted a net profit of Rs 5,258 crore compared to net loss of Rs 146 crore in the same quarter last year. The profits on standalone basis showed an increase of 31% quarter-on-quarter, while revenue from operations increased 6% quarter-on-quarter to Rs 25,959 crore. The jump in revenue was despite an 11% q-o-q drop in sales volume.