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Informist, Tuesday, Aug. 12, 2025

By Ashutosh Pati

MUMBAI – Jindal Steel Ltd.'s net profit in Apr-Jun grew for the first time in the past five quarters, including a net loss in the trailing quarter, due to an increase in its operating profit and lower expenditure. However, the company reported an on-year fall in its top line in the June quarter, even though it slightly beat Street's estimates, mainly because of declining steel sales volume during the period. 

Jindal Steel, formerly known as Jindal Steel and Power Ltd., reported a consolidated net profit of INR 14.94 billion in the quarter ended June, up over 11% from the corresponding period a year ago. The company's bottom line also surpassed analysts' expectations, which pegged it at INR 11.02 billion. The company's consolidated revenue from operations fell nearly 10% on year to INR 122.94 billion, but was slightly higher than Street's expectation of INR 122.27 billion.

The steelmaker's production was slightly up from the year-ago quarter, while it fell from the trailing quarter. During the June quarter, Jindal Steel produced 2.09 million tonnes of steel, slightly higher than 2.05 million tonnes it had produced a year ago but lower than 2.11 million tonnes produced in the March quarter. The company sold 1.90 million tonnes of steel in the June quarter, down from 2.09 million tonnes sold a year ago. In the trailing quarter it had sold 2.13 million tonnes of steel. Sequentially, Jindal Steel's sales volume fell 10% due to replenishment of inventory after excessive drawdown in the trailing quarter, it said. 

The company's total expenses for the reporting quarter fell nearly 13% on year to INR 103.07 billion, mainly because of a 16% fall in the cost of material consumed. The company reported INR 53.86 billion as the cost of raw materials during the quarter.

The company's adjusted earnings before interest, tax, depreciation, and amortisation for the reporting quarter rose over 5% on year to INR 29.84 billion. The company's EBITDA was adjusted for a one-off foreign exchange gain of INR 210 million during the quarter. The company had a consolidated net debt of INR 144 billion as of Jun. 30, up from INR 119.57 billion on Mar. 31.

The company incurred a total capital expenditure of INR 22.26 billion for the June quarter, driven by the expansion projects at Angul, Jindal Steel said. The company is in the final stage of commissioning the blast furnace in Angul. "The blast furnace is ready, and commissioning activities are going on. Production will commence within this month." 

On Tuesday, shares of Jindal Steel closed 0.8% higher at INR 998.50 on the National Stock Exchange. The company announced its Apr-Jun earnings post market hours.  End

Edited by Depshikha Bhardwaj

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