Connect with us

Business

JSW Steel posts 84.38 percent decline in Q2 net profit

Published

9 years ago

on

Kolkata: Steelmaker JSW Steel on Wednesday posted a decline of 84.38 percent in its net profit at Rs.116.95 crore for the period ended September 30, 2015 as against Rs.748.76 crore for the similar quarter last year.

Its consolidated total income in the period under review declined by 21.5 percent at Rs.10,906.90 crore as against Rs.13,894.79 crore in the July-September period in 2014.

However, despite intensifying competition due to dumping of steel in India from the surplus countries, consolidated domestic sales volume grew by 22 percent.

During the quarter, the company reported a fall of one percent in crude steel production at 3.25 million tonnes (mt) while saleable steel sales volume increased by four percent at 3.19 mt.

During the quarter, JSW Steel Coated Products registered a production (Galvanised/Galvalume products) volume of 0.36 mt and sales volume of 0.37 mt.

Its operations in Chile remained under care and maintenance from April-end this year with the company reporting an EBITDA loss of $0.48 million for the quarter.

The US-based Plate and Pipe Mill facility produced 0.058 mnt (million net tonne) of plates and 0.016 mnt of pipes, reporting a capacity utilisation of 25 percent and 12 percent respectively during the quarter.

Sales volumes for the quarter stood at 0.042 mnt of Plates and 0.018 mnt of Pipes. This business unit reported an EBITDA loss of $3.1 million for the quarter.

The JSW Group, in a statement said, the Indian steel industry continues to suffer from uncontrolled imports at prices significantly lower than domestic prices in exporting countries especially from Korea, Japan and China.

Consumption of domestically produced steel was down by 2.3 percent during the April-September period this year as total steel imports were up by 42 percent.

The finished steel exports also decreased by 26 percent in the first half of the current fiscal year.

The dumping of steel into India has resulted in excess availability which continues to dent market sentiments and remains a serious threat to the domestic steel industry.

 

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending