New Delhi: Sajjan Jindal-led JSW Steel on Friday reported a 13.54 per cent rise in consolidated net profit to Rs 1,501 crore in the March 2025 quarter, helped by a reduction in expenses.
It had posted a net profit of Rs 1,322 crore in the January-March period of the preceding fiscal, the company said in an exchange filing.
During the fourth quarter, the company's total income declined to Rs 45,049 crore from Rs 46,511 crore in Q4 FY24.
However, JSW Steel trimmed expenses to Rs 43,032 crore from Rs 44,401 crore in the year-ago quarter.
For the entire FY25, the company's net profit slipped 61 per cent to Rs 3,491 crore against Rs 8,973 crore in FY24.
"The profit after tax Rs 1,501 crore in Q4 was after considering a charge of Rs 44 crore," JSW Steel said.
In a separate filing, JSW Steel said the board of directors recommended a final dividend of Rs 2.80 per fully paid-up equity share of Re 1 each for the year ended March 31, 2025.
It further approved the raising of long-term resources through issuance of non-convertible debentures with warrants which are convertible into or exchangeable with equity shares of the company of face value of Rs 1 each (the equity shares) at a later date, for an amount not exceeding Rs 7,000 crore inclusive of such premium as may be decided by the Board.
The board also cleared a proposal to raise Rs 7,000 crore through equity shares and/or convertible securities (other than warrants) by way of a qualified institution placement.
The Board of Directors further approved the Issuance of Secured/Unsecured, Redeemable, Non-Convertible Debentures not exceeding Rs 5,000 crores, by way of private placement.
The Board has also authorised the Finance Committee, a sub-committee of the Board of Directors, to decide on all matters relating to the aforesaid proposed issuances including finalisation and approval of the detailed terms and conditions of issue and the number of Securities to be issued.
On Bhushan Power and Steel Ltd (BPSL), JSW Steel said the subsidiary registered crude steel production of 0.98 million tonnes and a sales volume of 0.94 million tonnes. Its revenue from operations and operating EBITDA for the quarter stood at 5,635 crore and Rs 570 crore, respectively.
The EBITDA increased by 5 per cent quarter-on-quarter, mainly due to higher sales volume and lower coking coal costs. BPSL reported a Profit after Tax of 42 crores for the quarter.
The company's production was at 27.79 MT in FY25, while saleable steel sales at 26.45 MT were the highest.
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