Mumbai–Jindal Steel reported a 43.6% year-over-year decline in consolidated net profit to Rs 843.8 crore for the quarter ended June 30.
The company’s profit fell from Rs 1,495.97 crore in the same quarter last year and was also lower than the Rs 1,041.24 crore reported in the January-March quarter, according to a regulatory filing.
Consolidated revenue from operations rose 25.9% to Rs 15,482.13 crore from Rs 12,294.48 crore a year earlier. However, revenue declined sequentially from Rs 16,217.93 crore in the preceding quarter.
Total consolidated income increased to Rs 15,501.32 crore from Rs 12,324.88 crore in the year-ago quarter but fell from Rs 16,484.28 crore in the previous quarter.
The company’s consolidated expenses climbed to Rs 14,296.36 crore from Rs 10,306.97 crore a year earlier. Other comprehensive income stood at Rs 99.86 crore.
Basic earnings per share declined to Rs 8.30 from Rs 14.73 in the same period last year and Rs 10.27 in the preceding quarter.
Jindal Steel also announced several senior management changes alongside its quarterly results.
The board appointed Vidya Rattan Sharma as an additional director and Managing Director for a two-year term beginning July 24, 2026, subject to shareholder approval.
Sandeep Modi was appointed Chief Financial Officer, Rajiv Kumar was named Chief Operating Officer, and Sukhjit S. Pasricha was appointed Head of Human Resources. All three appointments took effect July 24.
The company said S S Kothari Mehta & Co. LLP was appointed statutory auditor for a five-year term, subject to shareholder approval.
Sunil Agrawal will step down as interim Chief Financial Officer but will continue to oversee the company’s finance function. (Source: IANS)
