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JSW Steel posts ₹2,773 cr profit, cites infra thrust
Mint Mumbai
|October 21, 2023
Sajjan Jindal-led JSW Steel Ltd on Friday reported a ₹2,773 crore net profit for the September quarter against a net loss in the same quarter last fiscal. The Mumbai-based steel manufacturer reported a 6.71% year-on-year increase in its consolidated revenue from operations to ₹44,584 crore.
Consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) stood at ₹7,886 crore, with an Ebitda margin of 17.7%.
JSW Steel attributed the strong growth to the government's thrust on infrastructure and positive consumer sentiment that has been driving investments. The country, it said, has strong traction in infrastructure, energy transition, defence and PLI schemes that are driving capex.
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