India’s Jindal SAW Limited, a manufacturer of steel pipes for the energy, transportation and water sectors, achieved a consolidated net profit of INR 4,240 million ($48.31 million) in the first quarter (April-June) of the fiscal year 2025-26, a decline of four percent year on year, according to a company regulatory filing on Wednesday, August 6.
The company reported a 17.3 percent fall in total revenue to INR 40,846.80 million ($461.08 million) in the given period.
The April-June quarter witnessed weak demand for steel pipes as the early onset of the monsoon season dampened construction activity, causing delays in various projects.
The company's iron and steel pipes sales dropped 19 percent year on year to 326,000 mt in the quarter.