The company had clocked a net profit of Rs 860.47 crore in the July-September period of the preceding 2024-25 financial year, the Naveen Jindal Group entity said in an exchange filing.
However, the company’s total income rose to Rs 11,707.82 crore from Rs 11,248.14 crore in the second quarter a year ago.
Total expenses also increased to Rs 10,725.55 crore from Rs 10,034 crore in the year-ago period.
In a separate statement, the company said its crude steel production increased to 2 million tonnes (MT) from 1.97 MT in the year ago period.
Sales also rose to 1.87 MT from 1.85 MT a year ago.Jindal Steel reduced consolidated net debt to 14,156 crore from Rs 14,400 crore as of June 30.The total capex for the quarter was Rs 2,699 crore, primarily driven by the expansion projects at Angul.
During the quarter, Jindal Steel commissioned the country’s second-largest blast furnace — Bhagavati Subhadrika BF-II at Angul with a rated capacity 4.6 MTPA.
The company has also commissioned the 3 MTPA Basic Oxygen Furnace (BOF-II) at Angul during the quarter