JSW Steel Reports 13-Fold Profit Surge and Plans Major Capacity Expansion
JSW Steel posts 13-fold rise in profit for March quarter; to double capacity in 6 years
The Economic Times
Image: The Economic Times
JSW Steel has reported a remarkable 13-fold increase in its net profit for the March quarter, reaching ₹19,243 crore (approximately $2.3 billion USD), driven by a one-time gain from the sale of BPSL Steel. The company plans to more than double its production capacity to 78 million tonnes by fiscal 2032, enhancing its position in the Indian steel market.
- 01Adjusted net profit, excluding exceptional items, was ₹3,475 crore, more than double from the previous year.
- 02JSW Steel achieved a record sales volume of 7.97 million tonnes during the March quarter.
- 03Revenue from operations reached an all-time high of ₹51,180 crore (approximately $6.2 billion USD).
- 04The company plans to spend ₹22,000-24,000 crore on capital expenditures this fiscal year.
- 05JSW Steel aims to expand its Vijayanagar plant's capacity by 5 million tonnes by fiscal 2030.
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JSW Steel, India's largest steel manufacturer, reported a staggering 13-fold increase in consolidated net profit for the March quarter, totaling ₹19,243 crore (approximately $2.3 billion USD). This surge was significantly boosted by a one-time gain from the sale of BPSL Steel. When adjusted for exceptional items, the net profit stood at ₹3,475 crore, more than double the previous year's figures. The company also achieved record sales volume of 7.97 million tonnes and revenue from operations of ₹51,180 crore (around $6.2 billion USD). Looking ahead, JSW Steel plans to expand its production capacity from the current 36.4 million tonnes to 78 million tonnes by fiscal 2032, including contributions from joint ventures with POSCO and JFE Steel. The company is set to invest ₹22,000-24,000 crore in capital expenditures this year, up from ₹15,595 crore in fiscal 2026. Additionally, JSW Steel will enhance its Vijayanagar plant's capacity by 5 million tonnes by fiscal 2030, making it the largest plant in a single location globally.
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JSW Steel's expansion plans and profit growth could lead to increased job opportunities and economic activity in the steel sector, benefiting local communities.
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