JSW Steel Q1 Net Profit Surges Over Two-Fold To Rs 2,209 Crore
JSW Steel on Friday reported an over two-fold jump in its consolidated net profit at Rs 2,209 crore in April-June quarter, aided by lower expenses.
It had registered a net profit of Rs 867 crore in the first quarter of the preceding fiscal year 2024-25, the company said in a filing.
Total income rose marginally by 0.9 per cent to Rs 43,497 crore in the reporting quarter from Rs 43,107 crore in the April-June period a year ago.
However, JSW Steel brought down its expenses to Rs 40,325 crore from Rs 41,715 crore in the year-ago quarter.
The company's consolidated crude steel production for the quarter stood at 7.26 million tonnes, higher by 14 per cent year on year (YoY). Capacity utilisation at Indian operations was 87 per cent during the quarter against 93 per cent during the fourth quarter of FY25, impacted by planned maintenance shutdowns.
According to the company, steel sales during the quarter under review stood at 6.69 million tonnes, up 9 per cent YoY. Institutional as well as retail sales volumes were higher by 12 per cent annually. Domestic sales also increased 12 per cent to 5.96 million tonnes.
However, exports fell 20 per cent during Q1 FY26 and constituted 7 per cent of sales from the company's Indian operations.
The company's overall revenue from operations stood at Rs 43,147 crore and operating EBITDA at Rs 7,576 crore, with an EBITDA margin of 17.6 per cent during the quarter.
The EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 37 per cent YoY, driven primarily by higher volumes and lower coking coal costs. The profit after tax during the reporting quarter was at Rs 2,209 crore.
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Net debt as of June 30, 2025 stood at Rs 79,850 crore, higher by Rs 3,287 crore compared to the figure of March 2025, mainly due to investment in working capital.
Crude steel production at the company's Indian operations during the quarter was at 7.02 million tonnes, higher by 15 per cent YoY. Steel sales fwere 6.43 million tonnes, higher by 9 per cent YoY.
JSW Steel's Indian operations registered a revenue of Rs 40,510 crore. Operating EBITDA was Rs 7,496 crore, higher by 38 per cent YoY. The EBITDA margin for the quarter was 18.5 per cent. Profit after tax at Rs 2,517 crore during the quarter was 118 per cent higher YoY.
In a separate statement, JSW Steel said it has filed a review petition before the Supreme Court on June 25, 2025 in respect of the apex court's judgement date May 2, 2025 related to Bhushan Steel and Power Ltd (BPSL), which it had acquired through insolvency proceedings in 2019 for around Rs 20,000 crore.
The Supreme Court had set aside the resolution plan submitted by JSW Steel for Bhushan Steel and Power Limited (BSPL), holding it illegal and in violation of the Insolvency and Bankruptcy Code (IBC).
JSW Steel said the Committee of Creditors and Resolution Professional have also filed separate review petitions. The review petitions will be listed in the Supreme Court in due course.
The Supreme Court has directed status quo in respect of proceedings before NCLT for implementation of the SC judgment until the review petition is decided.
We, along with our legal advisors, have analysed the matter and are of the view that we have strong grounds to pursue the Review Petition, JSW Steel said.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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