JSW Steel reported a more than threefold increase in consolidated profit for the December quarter of FY26 to Rs 2,410 crore, compared with Rs 719 crore in the corresponding quarter of the previous financial year.
The company informed stock exchanges that the quarterly profit included the recognition of deferred tax assets amounting to Rs 1,439 crore related to past unabsorbed depreciation at Bhushan Power and Steel Limited. JSW Steel stated that this depreciation is expected to be recovered due to capital gains arising from the slump sale of BPSL’s steel business, which contributed to the improvement in reported financial results.
Steel sales during the quarter reached a record 7.64 million tonnes, marking a year-on-year increase of 14 percent. Domestic sales stood at 6.59 million tonnes, reflecting a 10 percent rise from the year-ago period, supported by demand in the Indian market.
Exports for the quarter increased to 0.84 million tonnes, up 53 percent year-on-year. Exports accounted for 11 percent of total Indian operations sales during the quarter. Retail sales volumes rose 12 percent year-on-year to a record level.
Total income for the quarter increased to Rs 46,264 crore from Rs 41,525 crore in the corresponding period last year. Revenue from operations stood at Rs 45,991 crore. Adjusted EBITDA rose 22 percent year-on-year to Rs 6,620 crore.
The company attributed the increase in adjusted EBITDA to higher volumes, lower coking coal prices, and reduced power costs. This was partially offset by lower steel realisations during the quarter.
