Indian steel manufacturer Jindal Steel & Power reported a 21pct decline in net profit for Q1 FY25, ending June 30, 2024, with a profit of INR 1,337.92 crore (USD 159.8 mln), down from INR 1,691.8 crore in the same period last year. However, net profit increased by 44pct compared to the previous quarter due to higher sales volumes and reduced costs.
Revenue for Q1 FY25 rose to INR 13,652 crore (USD 1.6 bln) from INR 12,644 crore a year earlier. Production remained stable at 2.05 mln tons, while sales grew by 14pct YoY to 2.09 mln tons. Exports accounted for 7pct of total sales in the quarter.
Jindal Steel & Power has an annual crude steel capacity of 9.6 mln tons and a finished steel capacity of 7.25 mln tons. The company plans to increase its crude steel capacity to 15.9 mln tons and its finished steel capacity to 13.75 mln tons by the end of FY26. The company produces semi-finished, long products, flat products, and rails.
1 USD / 83.6 INR
