Domestic steel major JSW Steel on Friday reported a 69.2 percent year-on-year (YoY) jump in consolidated net profit at Rs 4,516 crore for the third quarter ended December 31, 2021.

In the corresponding quarter last year, the company posted a net profit of Rs 2,669 crore. CNBC-TV18 Polls had predicted a profit of Rs 5,157 crore for the quarter under review.

The consolidated total income of the company stood at Rs 38,071 crore for the quarter under consideration. It was Rs 21,859 crore for the same period year ago, it added. It also registered consolidated operating profit or EBITDA for the December quarter at Rs 9,132 crore.

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During the quarter, JSW Steel reported consolidated crude steel production of 5,21 million tonne (excluding JSW Ispat Special Products Ltd) showing a growth of 22 percent QoQ. Saleable sales for the quarter stood at 4.63 million tonne (excluding JSW Ispat Special Products Ltd) registering an increase of 16 percent QoQ.

Also, the company registered a strong VASP (value-added & special products) volume, with a share of VASP at 62 percent from 60 percent in the September quarter and 57 percent in the year-ago quarter.

The results came after the close of the market hours. Shares of JSW Steel ended at Rs 666.65, down by Rs 15.80, or 2.32 percent on the BSE.

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JSW Steel Ltd is the flagship company of the diversified $13 billion JSW Group, which has a leading presence in sectors such as steel, energy, infrastructure, cement, sports, among others.

(Edited by : Jomy Jos Pullokaran)

First Published:Jan 21, 2022 4:14 PM IST