Jindal Steel posts 26% drop in Q2 net profit at Rs 635 crore, appoints Gautam Malhotra as CEO

Malhotra, who has over 19 years of experience across the industry, has been with the company since May 2024 and worked in various departments.

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26 Aug, 2025 12:21

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Jindal Steel posted a 26.2 percent drop in consolidated net profit at Rs 635.08 crore in the second quarter of current financial year, compared to Rs 860.47 crore in the same period of previous financial year, the company said in an exchange filing on October 28.

However, it fell significantly from Rs 1,495.97 crore in the June quarter of FY26.

Its total revenue from operations rose 4.21 percent to Rs 11,685.88 in the reported quarter over Rs 11,213.31 in the year-ago period, the stock filing showed. The total revenue stood at Rs 12.294.48 crore in the April to June period.

Production and sales for the reported quarter, at 2 million tonne (MT) and 1.87 MT respectively, were both lower on a sequential basis, although its share of exports for the July-September quarter increased to 10 percent, from 7 percent in the preceding quarter. In a press release, Jindal Steel said that the share of value-added steel as a portion of overall sales increased to an all-time high of 73 percent during the quarter.

Consolidated net debt at the end of the July-September quarter reduced to Rs 14,156 crore, against Rs 14,400 crore as on June 30, 2025. Driven by its expansion projects at its Angul facility in Odisha, the company's total capital expenditure for the quarter was reported at Rs 2,699 crore.

Jindal Steel declared its financial results after the close of trading. Its shares closed nearly 4 percent higher on the National Stock Exchange at Rs 1,074.90 apiece.

New CEO

In addition, the company announced the appointment of Gautam Malhotra as the chief executive officer effective from October 28.

Malhotra, who has over 19 years of experience across the industry, has been with the company since May 2024 and worked in various departments.