Thursday, May 19 2022 | Time 23:28 Hrs(IST)
image
Business Economy


JSW Steel Q3 PAT jumps 69 per cent to Rs 4516 crore

Mumbai, Jan 21 (UNI) Sajjan Jindal-led JSW Steel on Friday reported a 69.2 per cent increase in consolidated net profit for the quarter ended December 31, 2021 at Rs 4516 crore.
The company had reported a PAT of Rs 2669 crore in the corresponding quarter last fiscal.
Its revenues from operations increased to Rs 38,071 crore from Rs 21,859 crore in Q3 FY 2021.
During the quarter, JSW Steel reported consolidated crude steel production of 5.21 million tonnes (excluding the JSW Ispat Special Products joint venture), while the saleable steel sales for the quarter stood at 4.63 million tonnes (excluding JSW Ispat Special Products joint venture).
It registered strong VASP (value-added and special products) volume, driven by increased domestic sales to automotive, solar and appliance segments.
The company’s consolidated net debt to equity (post consolidation of BPSL) stood at 1.02x at the end of the quarter. “This is after incurring capex of Rs 4,026 crores during the quarter and consolidation of BPSL,” it said.
On its ongoing expansion, the company said the 5 MTPA brownfield expansion at Vijayanagar is progressing well, with civil works underway at the site. The project is expected to be completed by FY2024.
The downstream expansion projects at Vijayanagar, Vasind and Tarapur are in advanced stages of implementation, with several lines having been commissioned in 9M FY2022, the company said.
The company’s spent Rs 4,026 crore during Q3 FY2022 in capex taking the total to Rs 10,353 crore for 9M FY2022, against a total planned capex spend of ₹18,240 crore for FY2022. During Q3 FY2022, BPSL incurred a capex of Rs 180 crore.
UNI PSK ACL1910
More News

KIMS Hospitals Q4 PAT up 42pc at Rs 83 3 crore

19 May 2022 | 10:36 PM

Hyderabad, May 19 (UNI) Hyderabad-based Krishna Institute of Medical Sciences (KIMS), the largest corporate healthcare group in Telugu states with a network of 12 hospitals and over 3600 beds spread across Telangana and Andhra Pradesh, on Thursday said it has posted a 42 percent jump in consolidated profit after tax (PAT) at Rs 83.3 crore for the fourth quarter ended March 31,2022, as compared to Rs 58.6 crore in the corresponding quarter of the last fiscal.

see more..

Telangana Govt inks Mou with King’s College London for Pharma University in Hyderabad

19 May 2022 | 10:35 PM

Hyderabad, May 19 (UNI) The Telangana Government has entered into Memorandum of Understanding (MoU) with King’s College London on Thursday in connection with the Pharma University at Hyderabad Pharma City.

see more..

Recommendations of GST Council not binding on Union and States:SC

19 May 2022 | 9:31 PM

New Delhi, May 19 (UNI) The Supreme Court (SC) on Thursday held that recommendations of the GST Council are not binding on the Union and States. The apex court also said that Parliament and the State legislatures possess simultaneous power to legislate on GST.

see more..

Jeep announces prices of its new SUV

19 May 2022 | 8:38 PM

Mumbai, May 19 (UNI) The American sports utility vehicle maker announced on Thursday that its all-new Jeep Meridian seven-seater SUV will be available in Indian market in price range of Rs 29.99 lakh to Rs 36.95 lakh.
The model lineup comes in five variants spread across two trims -– Limited and Limited (O) -– which are priced at Rs 29.99 lakh and Rs 36.95 lakh, respectively.

see more..

Maruti is part of Haryana: Khattar

19 May 2022 | 7:34 PM

Gurugram, May 19 (UNI) Haryana Chief Minister Manohar Lal Khattar said that today the real estate sector and the automobile sector are flourishing in tandem in Gurugram.

see more..
image