JSW Steel reports robust performance

Steelmaker JSW Steel posted stellar numbers for the quarter and the year ended March 2018. The company's operating profit to interest was at its best at 5.99 times.

For Q4FY18, the company's consolidated net profit was at Rs. 2,879 crore as against Rs. 1,008 crore, which is a 3 times increase, while the revenue were up 25 percent at Rs. 20,817 crore as against Rs. 16,656 crore on YoY basis. For the quarter, crude steel production increased 5 per cent yoy to 4.31 million tonnes, and sales of saleable steel were at 4.22 million tonnes, up 7 per cent over the same period.

For the full financial year, the steelmaker reported 76 per cent spike in consolidated net profit of Rs. 6,113 crore, up from Rs. 3,467 crore in the year ago. This is the company's highest ever reported profit.

JSW Steel's management has plans to expand its steel capacity from the existing 18 to 24.7 million tonnes per annum by 2020 through an invest of around Rs 17,000 crore.

Also, the company's board has approved a dividend of Rs. 3.20 per equity share.

On Thursday, the stock of JSW Steel closed at Rs. 332.30 per share, down by 1.29 per cent.