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JSW Steel’s Q1 profit soars 2x YoY on robust topline growth

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JSW Steel’s Q1 profit soars 2x YoY on robust topline growth
JSW Steel’s consolidated profit for the June quarter more than doubled year-on-year to 4,696 crore, aided by robust revenue growth, higher volumes, and lower finance costs. The bottomline was higher than Street expectations.

The country’s largest producer of steel reported its earnings during market hours on Friday, and its shares climbed 1.4% on the BSE at 1,238.35. While higher compared to the previous year, the bottomline was 75% lower sequentially as the March quarter benefited from one-time gains of 17,888 crore.

Consolidated revenue from operations for the June quarter rose around 10% on year to 47,364 crore; the year-on-year revenue growth stood at 19% on a proforma basis after adjusting the sales of Bhushan Power in the comparable quarter. The entity was de-consolidated from JSW Steel from March earlier this year.

Revenue growth for the steelmaker was boosted by a combination of higher steel prices and a 4% growth in consolidated sales volumes to 6.25 million tonne for the quarter.

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Total expenses for the quarter rose less than 4% on year to 41,830 crore—relatively lower than the revenue growth for the period—helped by a near 23% drop in finance costs to 1,712 crore. JSW Steel’s consolidated net debt is down to 46,157 crore at the end of June from 53,870 crore a quarter ago.


Net debt to equity ratio at the end of the quarter stood at 0.42 times, down from 0.51 times at the end of the March quarter, while the net debt to Ebitda ratio stood at 1.46 times, down from 1.81 times.
The revenue growth and relatively lower growth in expenses boosted the consolidated earnings before interest, tax, depreciation and amortisation for the company, which rose 38% on year to 9,383 crore. The Ebitda made on each tonne of steel rose 23% on year to 14,990 during the quarter.

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Weekly Commentary: Sloppy

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Weekly Commentary: Sloppy

Weekly Commentary: Sloppy

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Axis Greater China Equity FoF among 8 equity mutual funds that saw over Rs 220 crore outflow in June

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The Economic Times

Eight equity mutual funds, including Axis Greater China Equity FoF, Motilal Oswal Nasdaq 100 FOF and ICICI Pru Technology Fund, witnessed outflows exceeding Rs 220 crore in June

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Business

A Pause And Some Jitters

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BDC Weekly Review: Earnings Are Fine

A Pause And Some Jitters

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Calls for guidance to help Jersey families claim back childcare costs

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A woman wearing a white shirt under an olive blazer with a poster behind her with a child and carer playing with building blocks.

More guidance for parents claiming back money from the government’s childcare funding scheme is needed, the head of the Jersey Child Care Trust (JCCT) has said.

In February, the government said parents of a child eligible from January to August 2026 could apply for up to £4,180, and parents of children eligible for a full school year from the 1 September 2026 would be able to apply for up to £6,270.

But some families have had problems claiming money back from the States after being told they had provided ‘invalid receipts’ for childcare.

JCCT CEO Fiona Vacher said as it was a pilot scheme, it was likely problems would be discovered.

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She said: “We understand that there have been some cases through our contacts with parents and I think that’s around parents submitting bills rather than receipts.

“We knew there would be difficulties and I know the government is just responding to that.”

Vacher said the government could provide “a bit more information for parents about how they and what they submit”.

Deputy Catherine Curtis, the Minister for Education and Lifelong Learning, said 537 applications had been approved for 409 families with £1.4m paid out since the scheme began.

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She added that no formal complaints had been recorded but that feedback was “being reviewed to enable continuous improvement”.

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Bitcoin trapped in $62.5K-$65.5K range: Live levels

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Bitcoin trapped in $62.5K-$65.5K range: Live levels

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ACCO Brands Stock: The Pros Outweigh The Cons (NYSE:ACCO)

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ACCO Brands Stock: The Pros Outweigh The Cons (NYSE:ACCO)

This article was written by

Welcome to my author’s site. As an avid follower of SeekingAlpha, I take great interest in articles posted as the subject matter is often something that appeals to me. However, I will sometimes encounter an article that I might not agree with. My purpose is to present an alternative view to readers that they may want to take into account. I hope you find my articles interesting and informative.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ACCO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Popular garlic powder recalled over bacteria concerns

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Popular garlic powder recalled over bacteria concerns

A popular garlic powder sold at Dollarama stores across Canada is being recalled due to potential microbial contamination, health officials announced this week.

The Canadian Food Inspection Agency (CFIA) issued the recall Wednesday for Heavenly Spices garlic powder sold at Dollarama stores nationwide.

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The product is being recalled because it may be contaminated with Bacillus cereus, a bacterium that can cause nausea, vomiting, abdominal cramps and watery diarrhea, according to the U.S. Food and Drug Administration.

“Do not use, sell, serve or distribute the affected product,” the CFIA said in its recall notice.

TAYLOR FARMS PREPARING RECALL, DENIES BRANDED SALADS TIED TO OUTBREAK

Dollarama store location

The Canadian Food Inspection Agency recalled Heavenly Spices garlic powder sold at Dollarama stores nationwide due to potential bacterial contamination. (Andrej Ivanov/Bloomberg via Getty Images / Getty Images)

The agency classified the recall as a Class 2 event, meaning there is a moderate risk that consuming the product could cause short-term or non-life-threatening health effects.

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A Dollarama spokesperson told CTVNews.ca on Friday that customers who purchased the product should throw it away.

“Customers can also contact Dollarama Customer Service directly for a $2.00 e-gift card as a replacement,” the spokesperson said.

The recalled garlic powder was sold in 70-gram containers in stores and online.

GENERAL MILLS PULLS MORE THAN 735,000 PILLSBURY ROLLS FROM SHELVES OVER POSSIBLE GLASS CONTAMINATION

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 The Canadian Food Inspection Agency recalled Heavenly Spices garlic powder sold at Dollarama stores over concerns it may be contaminated with Bacillus cereus. (iStock)

According to the FDA, symptoms of Bacillus cereus infection typically last between 24 and 48 hours. The bacterium is commonly found in meat, stews, gravies, vanilla sauce, and cooked rice that has been improperly refrigerated or left at room temperature.

The garlic powder is the latest food product to be pulled from store shelves.

Earlier this week, the FDA announced that General Mills was recalling more than 735,000 packages of Pillsbury bread products over concerns they may contain glass.

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Heavenly Spices garlic powder is being recalled after Canadian health officials warned the product may be contaminated with Bacillus cereus, a bacterium that can cause foodborne illness.

Bloomberg News also reported that fresh produce supplier Taylor Farms is preparing a recall tied to ingredients linked to a multistate Cyclospora outbreak, though the company has said its branded salad products are not associated with the illnesses.

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Zeta Global Stock: One Of A Small Number Of AI Stocks Actually Delivering (NYSE:ZETA)

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Zeta Global Stock: One Of A Small Number Of AI Stocks Actually Delivering (NYSE:ZETA)

This article was written by

Investing wisely does not have to be rocket science. It is about discipline and running the numbers. You don’t have to be like a grandmaster chess player playing the game twenty moves ahead of your opponent, you just need to understand how the pieces work.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Sphere Entertainment: Too Many Unanswered Questions

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Sphere Entertainment: Too Many Unanswered Questions

Sphere Entertainment: Too Many Unanswered Questions

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Tech selloff weighs on European shares ahead of ECB meeting next week

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Tech selloff weighs on European shares ahead of ECB meeting next week
A global rout in tech stocks dragged Europe’s equity benchmark slightly lower on Friday, leaving investors on edge as they prepare for next week’s European Central Bank meeting and corporate earnings.

The pan-European STOXX ‌600 index fell ⁠0.34% ⁠to 641.53 points. It was largely unchanged for the week.

A rise in oil prices stemming from the escalating Middle East conflict, and lacklustre reaction even to strong earnings this week, have complicated the market backdrop.

Investors had hoped that solid results would direct attention away from geopolitics and towards corporate fundamentals, potentially providing momentum for equities.

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However, tech stocks slipped 3.27% this week even after ASML, the dominant supplier of equipment needed to make high-tech computer chips, raised its 2026 sales forecasts.


The subdued reaction underscores the high bar companies have to clear ⁠to lure ‌investors into equities, at a time when sentiment towards major AI winners has soured and uncertainty over inflation persists.
The tech-heavy Nasdaq dropped 0.98%. Taiwanese equities, a major AI beneficiary in ⁠the emerging market universe, dropped 6.47%.

WAR RAGES ON IN MIDDLE EAST

Meanwhile, the U.S. struck bridges and an airport in Iran on Friday, while Tehran responded by hitting a power and desalination plant in Kuwait, one of the Gulf countries that host U.S. airbases. “There is clearly a real disconnect between what Iran believes it can achieve and what the U.S. wants. That is causing some dissonance in markets,” said Steven Schoenfeld, CEO of MarketVector Indexes.

FOCUS TURNS TO ECB NEXT WEEK

Rising energy prices have also sharpened the focus on the European Central Bank, which is widely expected ‌to keep interest rates unchanged on July 23. Investors still expect a second rate hike later this year.

Utilities stocks rose 1.55% and were the biggest gainers on the European benchmark on Friday, while luxury were the best-performing ⁠sector for the week.

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Britain’s Burberry slipped 6.38% after the luxury group said the Middle East conflict had weighed on tourist spending in Europe.

Saab rose 9.73% after the Swedish defence and aerospace group reported a bigger-than-expected increase in second-quarter operating profit.

Among other top movers, Norwegian recycling technology company Tomra Systems jumped 11.87% after upbeat quarterly results, while Swedish tech company Lagercrantz slid 7.09% on downbeat quarterly core earnings.

Volvo Group dipped 0.64% even after theSwedish truckmaker reported a 35% jump in second-quarter profit.

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Private equity firm EQT gained 11.02%. Australia’s Perpetual rejected a sweetened A$2.5 billion ($1.75 billion) takeover proposal from the Swedish company.

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