JSW Steel reported a significant 64.66 per cent year-on-year decline in net profit for the fourth quarter ended 31 March 2024, with earnings dropping to Rs 1,322 crore from Rs 3,741 crore in the corresponding quarter last year.
Revenue from operations decreased by 1.5 per cent to Rs 46,269 crore, compared to Rs 46,962 crore in the same period last year, slightly exceeding the poll's forecast of Rs 44,721 crore.
Operating performance also weakened, with EBITDA falling 22.9 per cent to Rs 6,124 crore from Rs 7,939 crore in the previous fiscal's corresponding quarter, though it was above the expected Rs 5,997 crore. The EBITDA margin narrowed to 13.2 per cent from 16.91 per cent year-on-year, aligning closely with the predicted 13.41 per cent.
Despite these challenges, the board recommended a final dividend of Rs 7.30 per equity share for the year ended 31 March 2024. This dividend will be credited following approval at the company's 30th annual general meeting.
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