Mumbai, May 23 (IANS) JSW Steel, backed by the JSW Group, on Friday announced that the company’s net profit dropped to Rs 3,491 crore for the full fiscal (FY25), falling over 61 per cent from Rs 8,973 crore in the previous financial year (FY24).
This significant drop came despite a moderate improvement in its earnings during the final quarter of the year.
For the quarter ended March 31 (Q4 FY25), JSW Steel posted a net profit of Rs 1,501 crore, up around 13.54 per cent from Rs 1,322 crore in the same quarter last year (Q4 FY24), according to its stock exchange filing.
However, the revenue from operations declined by about 3 per cent year-on-year (YoY) to Rs 44,819 crore, as the steel sector continued to face weak demand and pressure from cheaper imports, especially from China and Southeast Asia.
For the full year, JSW Steel’s total revenue from operations stood at Rs 1,68,824 crore, down 3.53 per cent from Rs 1,75,006 crore in FY24.
Meanwhile, total expenses inched up slightly by 0.36 per cent to Rs 1,63,641 crore in FY25.
The company managed to improve its operational performance. Its operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose to Rs 6,378 crore in Q4 FY25, compared to Rs 6,124 crore a year ago.
The EBITDA margin also improved to 14.23 per cent, up from 13.2 per cent last year, helped by lower input costs.
The company’s board has declared a final dividend of Rs 2.8 per equity share for the financial year.
In addition, it has approved a plan to raise up to Rs 14,000 crore through a mix of non-convertible debentures and equity or convertible securities to support long-term growth plans.
The results were released after market hours on May 23. Earlier that day, JSW Steel shares closed slightly higher at Rs 1,007.90 on the National Stock Exchange (NSE).
–IANS
pk/
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