What was the year-on-year change in Jindal Steel's consolidated net profit for the first quarter, and what was the absolute figure?

Jindal Steel's consolidated net profit slumped 43.5% year-over-year to 8.45 billion rupees ($87.51 million).

Why did Jindal Steel's quarterly profit decline despite higher steel prices and sales volumes?

The profit decline was driven by elevated coking coal costs, which caused the company's cost of materials consumed to climb 43.7% and overall expenses to rise 38.7% to 142.96 billion rupees — a surge that outweighed the benefits from higher domestic steel prices and increased sales volumes.

India's Jindal Steel quarterly profit slumps on elevated costs; names MD

Jul 24, 2026

Jindal Steel reported a 43.5% drop in Q1 net profit driven by rising coking coal costs, though revenue increased 26%. The company also appointed Vidya Rattan Sharma as managing director for a two-year term.

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India's Jindal Steel quarterly profit slumps on elevated costs; names MD

India's Jindal Steel quarterly profit slumps on elevated costs; names MD

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