JSW Steel reports 35% drop in full-year earnings for 2020

• Wednesday, May 27, 2020
• Source:ferro-alloys.com

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[Ferro-Alloys.com] A summary of the financial results for Indian steelmaker JSW Steel for its fourth quarter and full year 2020 financial year, which ended on March 31.

 

Production of crude steel 16.06 million tonnes, down 4% from 16.69 million tonnes year on year. 

 

Net profit after tax 52.91 billion rupees ($700.46 million), down 35% year on year.

 

Operating earnings before interest, taxes, depreciation and amortization (Ebitda) 125.17 billion rupees, down 32% year on year.

 

Revenues from operations 642.62 billion rupees, down 17% year on year. 

 

Total saleable steel sales 15.08 million tonnes, down 4% from 15.76 million tonnes year on year. 

 

Lower raw material costs helped partially offset negative impact on margins.

 

Source: Metalbulletin

 

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