JSW Steel reported a sharp improvement in its consolidated financial performance for the quarter ended 30 June 2026, with net profit more than doubling year-on-year to Rs 4,696 crore, up from Rs 2,209 crore in the same quarter last year.
Key numbers
Revenue from operations rose to Rs 47,364 crore from Rs 43,147 crore a year earlier. EBITDA improved 38% year-on-year to Rs 9,383 crore, from Rs 6,816 crore in Q1 FY26. Net debt as of 30 June stood at Rs 46,157 crore, down Rs 7,713 crore from the end of March.
Sequential picture
Compared with the March 2026 quarter, reported profit was lower than the Rs 19,243 crore posted then, but that figure had included a large one-time exceptional gain. On a comparable operating basis, the company said underlying performance remained stronger this quarter.
Other developments
The company’s board also approved participation in the proposed initial public offering of JSW One Platforms Limited, with JSW Steel to act as a promoter selling shareholder offering shares worth up to Rs 811 crore as part of the issue.
Analysts attributed the improved performance to steadier domestic steel demand and better realisations, alongside lower input costs compared with a year ago.
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