{"id":276036,"date":"2019-05-25T05:42:43","date_gmt":"2019-05-25T05:42:43","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=276036"},"modified":"2019-05-25T05:42:43","modified_gmt":"2019-05-25T05:42:43","slug":"jsws-profit-drops-to-rs-1495-crore-as-fuel-power-costs-soar","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jsws-profit-drops-to-rs-1495-crore-as-fuel-power-costs-soar\/","title":{"rendered":"JSW\u2019s profit drops to Rs 1,495 crore as fuel, power costs soar"},"content":{"rendered":"<p>JSW Steel\u2019s consolidated net profit nearly halved in the March quarter from a year ago to `1,495 crore, as fuel and power costs soared while realisations dropped due to subdued steel prices. The net profit was in line with Bloomberg consensus estimates of about `1,487 crore.<\/p>\n<p>Total expenses rose 13% year-on-year to `20,058 crore between January and March, thanks to a rupee depreciation that inflated the costs of imported inputs and consumables, and higher electrode and refractory costs. Power and fuel expenses stood at `3,507 crore and there was a substantial jump in changes in inventories of finished goods, work-in-progress and stock-in-grade to `1,694 crore in the March quarter from just `58 crore a year earlier. Meanwhile, the company\u2019s realisations dropped 2% in the March quarter from a year earlier, as steel prices remained under pressure. As such, the domestic industry is bracing for higher steel dumping here by China, as Beijing\u2019s trade war with Washington flares up.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JSW Steel\u2019s consolidated net profit nearly halved in the March quarter from a year ago to `1,495 crore, as fuel and power costs soared while realisations dropped due to subdued steel prices. The net profit was in line with Bloomberg consensus estimates of about `1,487 crore. Total expenses rose 13% year-on-year to `20,058 crore between January and March, thanks to a rupee depreciation that inflated the costs of imported inputs and consumables, and higher electrode and refractory costs. Power and fuel expenses stood at `3,507 crore and there was a substantial jump in changes in inventories of finished goods, work-in-progress [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-276036","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=276036"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276036\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=276036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=276036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=276036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}