Moneycontrol
May 16, 2018 04:22 PM IST | Source: Moneycontrol.com

JSW Steel beats estimates; reports 3-fold rise in Q4 profit at Rs 2879 cr

The operating profit or EBITDA of the company rose 67.2 percent at Rs 5,290 crore and margin was up 640 bps at 25.4 percent.

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JSW Steel, the largest steelmaker in India, reported nearly 3-fold increase in its Q4 net profit at Rs 2879 crore, YoY.

The company had reported net profit at Rs 1008 crore in the quarter ended March 2017.

Revenue of the company jumped 16 percent to Rs 20817 crore against Rs 17917 crore.

A Reuters poll of 10 analysts estimated the company to report a consolidated net profit of Rs 1,893 crore and revenue to increase to Rs 19,556 crore.

The operating profit or EBITDA of the company rose 67.2 percent at Rs 5,290 crore and margin was up 640 bps at 25.4 percent.

The company board has recommended dividend of Rs 3.20 per equity share of Re 1 each for the year 2017-18.

JSW Steel ended at Rs 336.65, up Rs 2.90, or 0.87 percent on the BSE.

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