India's JSW Steel beats profit view on higher prices (updated)

JSW Steel

17/07/2026 10:53

Adds comments from post-earnings call in paragraph 7, 8
By Anuran Sadhu
July 17 (Reuters) - India's top steelmaker JSW Steel JSTL.NS beat quarterly profit estimates on Friday as margins improved on higher steel prices and resilient volumes. 
The firm's consolidated net profit of 46.51 billion rupees ($482.79 million) for the quarter ended June 30 was more than double from a year earlier and topped analysts' average estimate of 31.11 billion rupees, per data compiled by LSEG.
Analysts said prices of flat steel products such as hot-rolled coil and cold-rolled coil rose sharply while capacity expansion boosted volume growth.
JSW Steel's sales volume rose 4% during the quarter and its     revenue from operations rose 9.8% to 473.64 billion rupees, beating analysts' expectations of 448.07 billion rupees.
The steelmaker's profit margin shot up to 9.91% in the reporter quarter from 5.12% a year ago. 
Domestic flat steel prices, which make up the bulk of JSW's product mix, held up better than prices of long steel products, while elevated costs of iron ore and coking coal, key raw materials, dented the bottom line.
JSW Steel expects slower rise of coking coal prices by $12-15 per ton in the second quarter, CEO Jayant Acharya said in a post-earnings call. 
Coking coal costs rose by $17 per ton in the June quarter, which was higher than JSW's expectation of $15 per ton increase. 
The firm's cost of material consumed surged 18.4% in the first-quarter, pushing overall expenses up 3.7% to 418.30 billion rupees.

($1 = 96.3350 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))