JSW STEEL Announces Quarterly Results (1QFY22); Net Profit Up 1154.3%

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JSW STEEL Announces Quarterly Results (1QFY22); Net Profit Up 1154.3%
Mon, 26 Jul

JSW STEEL has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m117,820269,340289,0207.3%145.3%
Other incomeRs m1,3201,6101,98023.0%50.0%
TurnoverRs m119,140270,950291,0007.4%144.3%
ExpensesRs m104,410184,940186,2800.7%78.4%
Gross profitRs m13,41083,570102,74022.9%666.1%
DepreciationRs m10,47012,53011,830-5.6%13.0%
InterestRs m10,16010,0509,930-1.2%-2.3%
Profit before taxRs m-5,90062,60082,96032.5%
TaxRs m-61020,81027,19030.7%
Profit after taxRs m-5,29041,79055,77033.5%
Gross profit margin%11.431.035.5
Effective tax rate%10.333.232.8
Net profit margin%-4.415.419.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 145.3% on a year-on-year (YoY) basis. The expenses were up by 78.4% YoY during the same period.
  • The company's operating profit increased by 666.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.5% in 1QFY22 as against 11.4% in 1QFY21.
  • Depreciation charges increased by 13.0% and finance costs declined by 2.3% YoY, respectively.
  • Other income increased by 50.0% YoY during the quarter.
  • Net profit for the quarter increased by 1154.3% YoY. Net profit margins during the quarter increased from -4.4% in 1QFY21 to 19.2% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.7% QoQ during the same period.
  • The company's operating profit increased by 22.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.5% in 1QFY22 as against 31.0% in 4QFY21.
  • Net profit for the quarter increased by 33.5% QoQ, while net profit margins increased from 15.4% in 4QFY21 to 19.2% in 1QFY22.

To see how JSW STEEL has performed over the last eight quarters,please visit here.

Find Out: How to Create Massive Gains from Govt's Mega 2023 Plan?

JSW STEEL Share Price Performance

Over the last one year, JSW STEEL share price has moved up from Rs 204.9 to Rs 704.1, registering a Gain of Rs 499.2 or around 243.6%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 19,511.1 (up 0.7%). Over the last one year it has moved up from 7,567.5 to 19,511.1, a gain of 11,944 points (up 157.8%).

Overall, the S&P BSE SENSEX is up 39.6% over the year.

Current Valuations

At the current price of Rs 704.1, the price to earnings (P/E) ratio of JSW STEEL stands at 12.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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