JSW Steel Q4 profit up 3-fold to Rs 171cr, FY16 loss at Rs 742cr
JSW Steel's fourth quarter consolidated profit nearly trebled to Rs 171.25 crore compared to Rs 62.38 crore in year-ago period, supported by operational performance and other income. Revenue declined 15 percent to Rs 10,697.52 crore in quarter ended March 2016 compared to Rs 12,599.7 crore in same period last fiscal. Operating profit (earnings before interest, tax, depreciation and amortisation) grew by 8.4 percent to Rs 1,825 crore and margin expanded by 370 basis points to 17.1 percent compared to year-ago period. JSW Steel said it expects FY17 crude steel production at 15.75 million tonnes against 12.56 million tonnes in FY16, adding sales volume in Q4 increased 7 percent to 3.28 million tonnes YoY. In FY16, the steel company posted a loss of Rs 741.95 crore against profit of Rs 1,796.57 crore in previous year. Revenue in same period fell 20.9 percent to Rs 41,878.88 crore compared to earlier year. JSW Steel shares advanced 1.45 percent to close at Rs 1,310.35 on Bombay Stock Exchange.
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