JSW Steel on Friday reported a stellar 198.33% year-on-year (YoY) surge in its consolidated net profit (attributable to owners) at ₹2,139 crore for the quarter ended December 31, 2025. The country’s leading steel producer had reported a profit of ₹717 crore in the corresponding quarter of the previous fiscal year.

Revenue and operating performance

The company’s consolidated revenue from operations increased by 11.1% to ₹45,991 crore during Q3 FY26, compared to ₹41,378 crore reported in Q3 FY25. This growth was supported by robust domestic demand and optimised operational efficiencies.

The third quarter also saw a healthy 16.4% surge in the company’s consolidated EBITDA, which reached ₹6,496 crore. The EBITDA margin improved to 14.12% against 13.48% in the same period last year, indicative of better cost management despite fluctuating raw material prices.

Exceptional items and standalone performance

On a standalone basis, JSW Steel reported a net profit of ₹757 crore. The standalone results were impacted by an exceptional item of ₹338 crore. This provision was made following the notification of new labour codes on November 21, 2025, which led to an increase in employee benefit obligations.

Acquisitions and mergers

On December 3, 2025, JSW Steel completed the 100% acquisition of Saffron Resources Private Limited for a consideration of ₹681 crore. Additionally, the Board has approved the merger of several subsidiaries—including Amba River Coke, Monnet Cement, and JSW Retail and Distribution—into JSW Steel to streamline operations.

The company maintained a stable balance sheet with a standalone debt-equity ratio of 0.77. Its inventory turnover stood at 84 days, while trade receivables turnover was maintained at 17 days.

The shares of JSW Steel ended 1.60% lower at ₹1,165.40 on the national stock exchange on Friday. The company's stock has surged over 25% in the past one year, while the benchmark Nifty 50 index has risen close to 8% during the period.