New Delhi, Sajjan Jindal-led JSW Steel on Friday reported that its consolidated net profit rose 13.54 per cent to Rs 1,501 crore in the March 2025 quarter due to reduction in expenses.
The company said in an exchange filing that it had a net profit of Rs 1,322 crore in the January-March period of the previous fiscal.
The company’s total income during the fourth quarter declined to Rs 45,049 crore from Rs 46,511 crore in the fourth quarter of FY 2024.
However, JSW Steel reduced expenses to Rs 43,032 crore from Rs 44,401 crore in the same quarter a year ago.
For the full FY25, the company’s net profit declined 61 percent to Rs 3,491 crore as against Rs 8,973 crore in FY24.
“The profit after tax of Rs 1,501 crore in the fourth quarter is after considering a charge of Rs 44 crore,” JSW Steel said.
In a separate filing, JSW Steel said the board of directors has recommended a final dividend of Rs 2.80 per fully paid-up equity share of Rs 1 for the year ended March 31, 2025.
It also approved raising long-term resources by issuing non-convertible debentures with warrants which are convertible or exchangeable into equity shares of face value of Rs 1 each of the company at a later date, an amount not exceeding Rs 7,000 crore, including premium to be decided by the board.
The board also approved a proposal to raise Rs 7,000 crore through issuance of equity shares and/or convertible securities (other than warrants) through qualified institutional placement.
The board of directors also approved issuance of secured/unsecured, redeemable, non-convertible debentures of not more than Rs 5,000 crore through private placement.
The board has authorised the Finance Committee, a sub-committee of the board of directors, to take decisions on all matters relating to the above proposed issuances, including finalising and approving the detailed terms of the issue and the number of securities to be issued.
Regarding Bhushan Power & Steel Ltd (BPSL), JSW Steel said the subsidiary recorded a production of 0.98 million tonnes of crude steel and a sales volume of 0.94 million tonnes. Its revenue from operations and operating EBITDA for the quarter stood at Rs 5,635 crore and Rs 570 crore, respectively.
EBITDA grew 5 percent on a quarter-on-quarter basis, mainly due to higher sales volumes and lower coking coal cost. BPSL reported a profit after tax of ₹42 crore for the quarter. The company’s production in FY25 was 27.79 MT while saleable steel sales stood at 26.45 MT which was an all-time high.
