Jindal Steel & Power Ltd (JSPL) reported a significant decline in net profit for the third quarter of FY 2024-25, ending December 31, 2024, due to higher costs and lower margins.
Revenue increased marginally by 0.42pct YoY, reaching INR 11,750.67 crore (USD 1.35 bln) for Q3 FY25. However, profit after tax dropped by 50.7pct, falling to INR 950.88 crore (USD 109.7 mln) compared to the same period last year.
JSPL’s production stood at 1.99 mln tons, up 3pct YoY, while sales reached 1.90 mln tons, a 5pct increase YoY. Exports accounted for 7pct of sales in Q3 FY25.
With an annual crude steel capacity of 9.6 mln tons and a finished steel capacity of 7.25 mln tons, JSPL plans to expand its crude steel capacity to 15.9 mln tons and finished steel capacity to 13.75 mln tons by FY26. The company produces semi-finished, long products, flat products, and rails.
1 USD / 86.6 INR
