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JSW Steel Q2FY24 Financial Performance Review

Oct 20, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of JSW Steel for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
The company reported a total income of ₹44,821 crores for Q2FY24, with a solid 5.35% increase compared to the preceding quarter.

EXPENSES: 
They also recorded expenses amounting to ₹40,801 crores in Q2FY24, with a 4.54% increase compared to the corresponding quarter of the previous fiscal year. Furthermore, expenses showed a moderate decrease when compared to Q2FY23.

NET PROFIT: 
The net profit of the Company for Q2FY24 was ₹2,773 crores, reflecting a 14.21% increase compared to the preceding quarter.

MARGINS: 
JSW Steel's margin in Q2FY24 was 6.19%. This figure showed a minor increase of 0.48% compared to the previous quarter. Year-on-year, the margin exhibited significant growth, with an 8.37% change compared to the corresponding quarter of the previous fiscal year as the company suffered a loss in the same quarter last year.

In conclusion, JSW Steel's financial performance in Q2FY24 reflects a period of growth in revenue, net profit, and margins, despite an increase in expenses. Further analysis will be crucial to understand the sustainability of these positive trends.

Stay tuned for more detailed updates on JSW Steel's financial performance in the coming quarters.