JSW Steel profit jumps 4x in Q2; misses estimates

SAJJAN JINDAL-LED JSW Steel reported a 307% year-on-year jump in net profit for the second quarter of the financial year 2026 at ₹1,646 crore, up from ₹404 crore, driven by lower mining premium and royalties, inventory costs, and the absence of an exceptional item on account of the provision for surrender of Jajang Iron Ore mining lease.

- URVI MALVANIA

The steelmaker, however, missed Bloomberg estimates which pegged profit after tax (PAT) at ₹1,766 crore.

Revenue from operations grew marginally by 14% to ₹45,152 crore during the quarter, ahead of Bloomberg estimates of ₹44,171 crore.

Earnings before interest, taxation, depreciation and amortisation (Ebitda) was up 31% year-on-year at ₹7,115 crore, also beating Bloomberg estimates of ₹6,938 crore. Ebitda margin was 15.8%, while PAT margin was 3.6%.