JSW Steel Ltd. Q2 FY2024 results: revenue ₹44,584 crore, up 6.7% on the year

JSW Steel Ltd. (JSWSTEEL) reported consolidated revenue from operations of ₹44,584 crore for Q2 FY2024, the quarter ended 30 September 2023, up 6.7% on the same quarter a year earlier. Profit after tax was ₹2,773 crore, and earnings per share ₹11.38. The figures are the company's own, from the unaudited results it filed with NSE on 20 October 2023.

Revenue from operations₹44,584 croreup 6.7%

Profit after tax₹2,773 crore

EPS₹11.38

QuarterQ2 FY2024ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue from operations	44,584	42,213	n/a	n/a
Other income	237	331	n/a	n/a
Total income	44,821	42,544	n/a	n/a
Cost of materials consumed	21,485	23,281	n/a	n/a
Purchases of stock-in-trade	171	284	n/a	n/a
Changes in inventories	2,709	-2,195	n/a	n/a
Employee benefit expense	1,097	1,161	n/a	n/a
Finance costs	2,084	1,963	n/a	n/a
Depreciation, depletion and amortisation	2,019	1,900	n/a	n/a
Other expenses	11,236	12,636	n/a	n/a
Total expenses	40,801	39,030	n/a	n/a
Profit before exceptional items and tax	4,020	3,514	n/a	n/a
Exceptional items	589	0	n/a	n/a
Profit before tax	4,609	3,514	n/a	n/a
Current tax	897	610	n/a	n/a
Deferred tax	915	442	n/a	n/a
Total tax	1,812	1,052	n/a	n/a
Profit after tax	2,773	2,428	n/a	n/a
Attributable to owners of the parent	2,760	2,338	n/a	n/a
Other comprehensive income	1,311	236	n/a	n/a
Total comprehensive income	4,084	2,664	n/a	n/a
EPS, basic	₹11.38	₹9.72	n/a	n/a
EPS, diluted	₹11.33	₹9.67	n/a	n/a

₹ crore except per share.

Leverage, as the company states it

Line	Q2 FY2024	Q1 FY2024	A year earlier
Debt to equity	0.01	0.01	n/a
Debt service coverage	0.03	0.02	n/a
Interest service coverage	0.04	0.04	n/a

Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.

Quarterly results, the last 12 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026	Q1 FY2027
Sales	42,213	44,584	41,940	46,269	42,943	39,684	41,378	43,147	45,152	45,991	51,180	47,364
Expenses	39,030	40,801	38,815	44,401	41,715	38,644	40,250	40,325	43,004	44,161	46,862	41,830
Operating profit	7,046	7,886	7,180	6,124	5,510	5,437	5,579	7,576	7,115	6,496	8,634	9,383
OPM %	17%	18%	17%	13%	13%	14%	13%	18%	16%	14%	17%	20%
Other income	331	237	194	242	164	153	147	350	284	273	341	724
Interest	1,963	2,084	1,996	2,062	2,073	2,130	2,115	2,217	2,413	2,304	2,168	1,712
Depreciation	1,900	2,019	2,059	2,194	2,209	2,267	2,336	2,537	2,554	2,362	2,148	2,137
Exceptional items	0	589	0	0	0	-342	-103	0	0	-529	17,888	0
Profit before tax	3,514	4,609	3,319	2,110	1,392	851	1,172	3,172	2,432	1,574	22,547	6,258
Tax %	30%	39%	26%	33%	37%	45%	39%	27%	29%	-61%	14%	23%
Net profit	2,428	2,773	2,450	1,322	867	404	719	2,209	1,646	2,410	19,243	4,696
EPS in ₹	₹9.72	₹11.38	₹9.92	₹5.33	₹3.47	₹1.80	₹2.94	₹8.95	₹6.66	₹8.76	₹67.07	₹19.05
Filing	NSE	NSE	NSE	NSE	NSE	NSE	NSE	Filing	Filing	Filing	Filing	Filing

₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.

Source

Unaudited consolidated results for the quarter ended 30 September 2023, filed with NSE on 20 October 2023: the result statement. All of JSW Steel Ltd.'s results: NSE company page.

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