JSW Steel - Q2 FY13 Results First Cut - Microsec

JSW Steel announced its Q2FY13 results on 28th October, 2012.

The company's consolidated net sales arrived at INR9475.24 crore, which was 16.49% higher on YoY basis, due to higher production of 2.17MT, after it secured iron ore supplies from government auctions of the raw material , but on QoQ basis, it was down by 4.31%, due to plant utilization being low at 80%, on back of erratic supplies of iron ore in Karnataka.

The EBIDTA for the quarter was INR1531.27 crore, which was up by 9.87% on YoY basis, on back of lower costs of coking coal. The EBITDA Margin was at 16.10%, which was down by 101bps and 316bps on YoY and QoQ basis. The company returned into net profit of INR691.25 crore in Q2FY13, after benefitting from a one-time foreign exchange gain of INR423.77 crore. This was on account of 6.4% of appreciation in the rupee against dollar.

Source : Equity Bulls

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