JSW Steel Q2 results: Net profit surges 307% YoY to Rs 1,646 crore, revenue climbs 13%

JSW Steel on Friday reported set of earnings for the second quarter ended September 30, 2025. The steel major's consolidated net profit after tax witnessed a massive 307 per cent year-on-year (YoY) jump to Rs 1,646 crore against Rs 404 crore in the same period last year. 

The company’s revenue from operations for the quarter stood at Rs 45,152 crore against Rs 39,684 crore, marking a 13.7 per cent increase from the corresponding period last year.

On the operational front, JSW Steel delivered its highest-ever consolidated crude steel production at 7.90 million tonnes, up 17 per cent YoY. This growth was attributed to the Dolvi plant operating at optimal capacity and the ramp-up of expansions at JVML and BPSL. Consolidated sales volumes also grew by 20 per cent YoY to 7.34 million tonnes.

Reported EBITDA for the quarter rose 31 per cent YoY to Rs 7,115 crore. The company stated that the increase in EBITDA was driven by higher sales volumes and lower costs for iron ore, coking coal, and power, which partially offset a decrease in realisations. The operating EBITDA margin for the quarter stood at 15.76 per cent. The company also strengthened its balance sheet, reducing its net debt by Rs 697 crore during the quarter. The Net Debt to Equity ratio stood at 0.93x as of September 30, 2025.

In a significant strategic move, the company's board has approved a Scheme of Amalgamation for merging its wholly-owned subsidiaries—Amba River Coke Limited, Monnet Cement Limited, and JSW Retail and Distribution Limited—with the parent company, subject to regulatory approvals. The board also cleared a plan to consolidate its US business operations under a single holding company to simplify the group structure.

Looking ahead, the company highlighted that India continues to stand out as the fastest-growing major economy. It noted that the Reserve Bank of India has revised its FY26 GDP growth forecast upward to 6.8 per cent, supported by strong domestic demand and easing monetary conditions.