JSW Steel Q4 results: Consolidated profit shrinks 87% to Rs 188 cr; total income drops 20% to Rs 18,009 cr
Sajjan Jindal-led JSW Steel on Friday reported a sharp 87.42 percent decline in consolidated net profit to Rs 188 crore for the quarter ended on 31 March, 2020, mainly on account of lower-income
New Delhi: Sajjan Jindal-led JSW Steel on Friday reported a sharp 87.42 percent decline in consolidated net profit to Rs 188 crore for the quarter ended on 31 March, 2020, mainly on account of lower-income.
The company had posted a consolidated net profit of Rs 1,495 crore in the year-ago quarter, JSW Steel said in a BSE filing.
JSW Steel's Q4 earnings fall substantially from the same quarter last year.
Co's board approves raising up to Rs 14,000 cr via equity and debt.
— CNBC-TV18 (@CNBCTV18Live) May 22, 2020
Consolidated total income during the January-March period was at Rs 18,009 crore, down from Rs 22,421 crore in the same quarter a year ago.
Total expenses were also down at Rs 17,056 crore from Rs 20,058 crore during the quarter ended March 2019.
JSW Steel is a part of diversified JSW Group, which has a presence in steel, energy, infrastructure, cement and JSW Ventures.
Narendra Modi's Rs 20-lakh cr economic stimulus package to boost Make in India programme: Sajjan Jindal
Industrialist Sajjan Jindal on Wednesday welcomed the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi to revive the economy hit by COVID-19, saying it will give a boost to the ambitious Make in India programme
Last month, Adani Enterprises had filed a plea in the Bombay High Court seeking quashing of all LRs against its firms that are under probe for alleged over-invoicing of Indonesian coal imports.
The JSW group had bought the then bankrupt Baytown steel asset for $810 million in October 2007, and is operating at just about 30 percent or 3 lakh tonne now.