JSW Steel Q2 Results Live: Profit Falls by 84.09% YOY | Company Business News

JSW Steel Q2 Results Live : JSW Steel has released its Q2 results on October 25, 2024, revealing a significant downturn in both revenue and profit. The company reported a topline decrease of 10.99% year-over-year, alongside a staggering 84.09% drop in profit compared to the same quarter last year.

In comparison to the previous quarter, JSW Steel’s revenue fell by 7.59%, while profits decreased by 48.05%. These figures highlight ongoing challenges in the steel market, as the company faces various economic pressures.

The company also noted a slight decline in selling, general, and administrative expenses, which decreased by 2.24% quarter-over-quarter but increased by 11.21% year-over-year. This indicates that while the company is managing some costs, overall expenses remain elevated compared to last year.

Operating income saw a notable drop as well, down 14.33% from the previous quarter and 56.2% year-over-year, further underscoring the tough conditions JSW Steel is navigating.

Earnings per share (EPS) for Q2 came in at ₹2.52, which is a decline of 74.59% compared to the same quarter last year, suggesting a substantial impact on shareholder returns.

In terms of market performance, JSW Steel has recorded a -2.18% return over the past week, a 5.77% return over the last six months, and an 8.84% return year-to-date. Currently, the company has a market capitalization of ₹233735.8 Cr, with a 52-week high of ₹1063 and a low of ₹723.

As of October 26, 2024, out of the 29 analysts covering JSW Steel, opinions are mixed. Three analysts have given a Strong Sell rating, five have recommended a Sell, five suggest holding, while ten analysts have rated the stock as Buy, and six as Strong Buy.

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