JSW Steel on Friday reported that its consolidated net profit more than doubled to Rs 4,696 crore for the quarter ended June 30, 2026, aided by higher revenue from increased steel prices, as expenses rose at a slower pace.


The Mumbai-based steelmaker had posted a consolidated net profit of Rs 2,209 crore in the corresponding quarter of the previous fiscal.

The company's revenue from operations rose 9.8 percent to Rs 47,364 crore in the April-June quarter of 2026-27 from Rs 43,147 crore in the April-June quarter of 2026-27 from Rs 43,147 crore in the year-ago period.

The results were higher than analysts' average estimate of about Rs 3,111 crore, according to data compiled by London Stock Exchange Group, reported Reuters.

Sale volumes grew by 4 percent during the reported period to 6.25 million tonne (MT), while production increased by 3 percent to 6.59 MT.


Steel prices grew significantly during the reported quarter, due to pressure from increased energy prices in the global market stemming from the impact of the Iran-US war. Prices for coking coal grew during the course of the conflict, with Indian steelmakers importing around 90 percent of their coking coal requirements.

However, some of the price increases were also moderated by lower steel pickups in May by infrastructure and real estate players, due to extreme heat conditions in some parts of India affecting work schedules.

Adjusted for foreign exchange losses, JSW Steel reported an earnings before interest, taxes, depreciation, and amortisation of Rs 9,373 crore, higher by 32 percent year-on-year. On a per-tonne basis, adjusted EBITDA increased by 27 percent to Rs 14,990, indicating significant price growth and a favourable cost situation.

During the quarter, JSW Steel spent Rs 4,869 crore by way of capital expenditure, with the firm having multiple expansion and refurbishment projects, at Vijayanagar, Dolvi, as well as its new electric arc furnace project in Kadapa, Andhra Pradesh.

The firm has guided capital expenditure of upto Rs 24,000 crore for FY27.

The JSW Group flagship continued to de-leverage, aided by its partnership with JFE Steel for the BPSL plant in Odisha. Net debt at the end of the quarter was at Rs 46,157 crore, lower by Rs 7,713 crore as on March 31, 2026.