JSW Steel, India’s largest steel maker, posted a 235 per cent jump in net profit at ₹2,410 crore in the third quarter from ₹719 crore in the same period of the last fiscal on the back of a one-time gain from deferred tax credit linked to the stake sale in subsidiary Bhushan Power & Steel Ltd.
The company’s revenue from operations went up by 11.1 per cent to ₹45,991 crore in Q3FY26 from ₹41,378 crore in the third quarter of FY25.
The one-time tax gain that propelled the net profit of the Sajjan Jindal-led company flowed from the 50 per cent stake sale in subsidiary BPSL to JFE Steel of Japan for ₹15,000 crore.
In a note to the results, the company recognised deferred tax assets (net) amounting to ₹1,439 crore based on the reassessment of unrecognised deferred tax assets, as it is probable that carried forward unabsorbed depreciation will be recovered against the likely capital gains on the BPSL transaction. On a pre-tax basis, the JSW’s profit went up by 23.6 per cent to ₹1,457 crore in Q3 from ₹1,178 crore in the same period of last year.
JSW guided that the deal with JFE, which can lead to deleveraging of ₹37,000 crore may be completed by the third quarter of FY27.
JSW Energy
JSW Energy on Friday posted a 150 per cent rise in its consolidated net profit at ₹420 crore in the December quarter from ₹168 crore in Q3 FY25, mainly on the back of higher revenues. Total revenue rose to ₹4,255 crore in the quarter from ₹2,640 crore a year ago.
