JSW Steel second quarter results announced in real time: profit fell 84.09% year-on-year

JSW Steel Second Quarter Results Live: JSW Steel released its second quarter results on October 25, 2024, showing a sharp decline in both revenue and profits. The company’s revenue fell by 10.99% year-on-year, and its profits fell by 84.09% compared with the same period last year.

Compared with the previous quarter, JSW Steel’s revenue fell by 7.59% and its profit fell by 48.05%. The figures highlight the ongoing challenges facing the steel market as the company faces various economic pressures.

The company also pointed out that selling, general and administrative expenses fell slightly, down 2.24% month-on-month, but increased 11.21% year-over-year. This suggests that while the company is managing some costs, overall expenses are still higher compared to last year.

Operating income also declined significantly, down 14.33% month-on-month and 56.2% year-on-year, further highlighting the difficult situation faced by JSW Steel.

Second quarter earnings per share (EPS) was $2.52, a decrease of 74.59% compared with the same period last year, which has a greater impact on shareholder returns.

Looking at market performance, JSW Steel has returned -2.18% over the past week, 5.77% over the past six months, and 8.84% year-to-date. Currently, the company’s market capitalization is $233735.8 Cr, 52-week high $1063 and low $723.

As of October 26, 2024, the 29 analysts covering JSW Steel were divided. Three analysts have rated the stock with a strong sell rating, five have recommended a sell, five have recommended a hold, ten have rated the stock a buy and six have given it a strong buy into the rating.

As of October 26, 2024, the consensus recommendation is Hold, reflecting a cautious outlook as the company strives to stabilize operations amid challenging market conditions.