India’s JSW Steel Limited has reported a consolidated net profit of INR 163.7 billion ($1.72 billion) in the fourth quarter (January-March) of the fiscal year 2025-26, against INR 15.01 billion ($156.87 million) in the corresponding quarter of the previous fiscal year, according to a company statement on Thursday, May 14.
The significant increase in profit was largely driven by a one-time gain, through the slump sale of the steel operations of its subsidiary Bhushan Power and Steel Limited (BPSL) to JSW JFE Steel, a joint venture with the Japanese firm JFE Steel.
The gain from the "loss of control" due to the slump sale was to the tune of INR 180.51 billion ($1.89 billion) with the total sale amount received from the transfer of the BPSL asset to the joint venture with JSW Steel reaching around INR 294.75 billion ($3.08 billion).
JSW Steel said it plans to increase steelmaking capacity from 31.9 million mt to 48.8 million mt in 2029-30, while also pursuing joint ventures with JFE Steel and POSCO to expand its footprint in India.
During the fourth quarter of the fiscal year 2025-26, JSW Steel Limited reported total sales of INR 511.8 billion ($5.35 billion), a rise of 14 percent year on year.
