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JSW STEEL Announces Quarterly Results (3QFY19); Net Profit Down 8.0%

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JSW STEEL Announces Quarterly Results (3QFY19); Net Profit Down 8.0%
Wed, 13 Feb

JSW STEEL has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m178,610215,520203,180-5.7%13.8%
Other incomeRs m420560370-33.9%-11.9%
TurnoverRs m179,030216,080203,550-5.8%13.7%
ExpensesRs m140,100166,460158,170-5.0%12.9%
Gross profitRs m35,87049,06045,010-8.3%25.5%
DepreciationRs m8,5209,74010,78010.7%26.5%
InterestRs m9,2309,63010,2106.0%10.6%
Profit before taxRs m18,54030,25024,390-19.4%31.6%
TaxRs m9409,3608,200-12.4%772.3%
Profit after taxRs m17,60020,89016,190-22.5%-8.0%
Gross profit margin%20.122.822.2
Effective tax rate%5.130.933.6
Net profit margin%9.89.78.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 13.8% on a year-on-year (YoY) basis. The expenses were up by 12.9% YoY during the same period.
  • The company's operating profit increased by 25.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.2% in 3QFY19 as against 20.1% in 3QFY18.
  • Depreciation charges increased by 26.5% and finance costs increased by 10.6% YoY, respectively.
  • Other income declined by 11.9% YoY during the quarter.
  • Net profit for the quarter declined by 8.0% YoY. Net profit margins during the quarter declined from 9.8% in 3QFY18 to 8.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.0% QoQ during the same period.
  • The company's operating profit declined by 8.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.2% in 3QFY19 as against 22.8% in 2QFY18.
  • Net profit for the quarter declined by 22.5% QoQ, while net profit margins declined from 9.7% in 2QFY18 to 8.0% in 3QFY19.

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

JSW STEEL Share Price Performance

Over the last one year, JSW STEEL share price has moved up from Rs 310.7 to Rs 269.8, registering a Loss of Rs 40.9 or around 13.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,345.4 (down 0.3%). Over the last one year it has moved down from 15,253.5 to 10,345.4, a gain of 4,908 points (down 32.2%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 269.8, the price to earnings (P/E) ratio of JSW STEEL stands at 7.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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JSW STEEL Announces Quarterly Results (2QFY19); Net Profit Up 149.9% (Quarterly Result Update)

Nov 9, 2018 | Updated on Nov 9, 2018

For the quarter ended September 2018, JSW STEEL has posted a net profit of Rs 21 bn (up 149.9% YoY). Sales on the other hand came in at Rs 216 bn (up 28.1% YoY). Read on for a complete analysis of JSW STEEL's quarterly results.

JSW STEEL Announces Quarterly Results (1QFY19); Net Profit Up 283.4% (Quarterly Result Update)

Jul 27, 2018 | Updated on Jul 27, 2018

For the quarter ended June 2018, JSW STEEL has posted a net profit of Rs 23 bn (up 283.4% YoY). Sales on the other hand came in at Rs 205 bn (up 28.4% YoY). Read on for a complete analysis of JSW STEEL's quarterly results.

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