JSW STEEL Announces Quarterly Results (3QFY20); Net Profit Down 86.8%

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JSW STEEL Announces Quarterly Results (3QFY20); Net Profit Down 86.8%
Mon, 27 Jan

JSW STEEL has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m203,180175,720180,5502.7%-11.1%
Other incomeRs m3701,5601,270-18.6%243.2%
TurnoverRs m203,550177,280181,8202.6%-10.7%
ExpensesRs m158,170148,410156,0405.1%-1.3%
Gross profitRs m45,01027,31024,510-10.3%-45.5%
DepreciationRs m10,78010,57010,550-0.2%-2.1%
InterestRs m10,21011,27010,600-5.9%3.8%
Profit before taxRs m24,3907,0304,630-34.1%-81.0%
TaxRs m8,20018,4802,490-86.5%-69.6%
Profit after taxRs m16,190-11,4502,140-86.8%
Gross profit margin%22.215.513.6
Effective tax rate%33.6262.953.8
Net profit margin%8.0-6.51.2
* 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 fell 11.1% on a year-on-year (YoY) basis. The expenses were down by 1.3% YoY during the same period.
  • The company's operating profit declined by 45.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.6% in 3QFY20 as against 22.2% in 3QFY19.
  • Depreciation charges declined by 2.1% and finance costs increased by 3.8% YoY, respectively.
  • Other income increased by 243.2% YoY during the quarter.
  • Net profit for the quarter declined by 86.8% YoY. Net profit margins during the quarter declined from 8.0% in 3QFY19 to 1.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.1% QoQ during the same period.
  • The company's operating profit declined by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.6% in 3QFY20 as against 15.5% in 2QFY19.
  • Net profit for the quarter increased by 118.7% QoQ, while net profit margins increased from -6.5% in 2QFY19 to 1.2% in 3QFY20.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

JSW STEEL Share Price Performance

Over the last one year,JSW STEEL share price has moved down from Rs 275.1 to Rs 262.3, registering a Loss of Rs 12.8 or around 4.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,095.9 (down 2.6%). Over the last one year it has moved down from 10,735.5 to 10,095.9, a gain of 640 points (down 6.0%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 262.3, the price to earnings (P/E) ratio of JSW STEEL stands at 39.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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JSW STEEL Announces Quarterly Results (4QFY20); Net Profit Down 85.8% (Quarterly Result Update)

May 27, 2020 | Updated on May 27, 2020

For the quarter ended March 2020, JSW STEEL has posted a net profit of Rs 2 bn (down 85.8% YoY). Sales on the other hand came in at Rs 179 bn (down 20.0% YoY). Read on for a complete analysis of JSW STEEL's quarterly results.

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