Jindal Steel on Friday posted a more than 21 per cent rise in consolidated net profit to Rs 771 crore in the September quarter of the current fiscal, supported by higher sales volumes.
The Naveen Jindal-owned steel maker had reported Rs 1,646 crore net profit in the second quarter of the preceding financial year, it said in an exchange filing.
During the July-September period of FY27, the company’s total income increased to Rs 15,289.20 crore, up 26 per cent from Rs 12,119.03 crore in Q2 FY26.
In a separate statement, the company said its gross revenue (which includes GST and other income) increased by 44 per cent to Rs 19,448 crore from Rs 13,505 crore in the July-September period of FY26.
“Gross revenue increased 9 per cent QoQ driven by higher sales volume and blended realisation. Average Selling Price improved sequentially on a higher share of flats in the overall sales mix and lower TMT sales within the longs,” Jindal Steel said.
Domestic sales accounted for 92 per cent of total sales.
Consolidated net debt stood at Rs 14,786 crore as of the end of the September quarter, compared to Rs 15,927 crore as of the June quarter.
Net debt to Ebitda improved to 1.51x from 1.71x over the same period. Capex spent during the quarter stood at Rs 1,228 crore.
Production for the quarter remained stable at 2.40 MT sequentially despite the monsoon season and posted a 20 per cent YoY rise over 2 MT output in July-September FY26. Sales volume increased to 2.38 MT, supported by inventory liquidation, up 27 per cent from 1.87 MT sales in Q2 FY26.
During the quarter, Jindal Steel commissioned the 192 km Barbil-Angul slurry pipeline, supported by India’s largest iron ore slurry-making and pumping complex with a capacity of 18 MTPA. The integrated system enables efficient transportation of iron ore from Barbil to Angul, strengthening raw-material logistics while reducing road congestion, fuel consumption and associated emissions.
The company entered the Guinness World Records for the world’s longest road built exclusively with processed steel slag in Chhattisgarh. The 1.85 km four-lane road, developed in collaboration with CSIR-CRRI at Raigarh, demonstrates the productive use of steel slag in road infrastructure and advances the company’s circularity agenda.
