EBITDA increased 42.2 per cent to Rs 10,120 crore from Rs 7,115 crore. The EBITDA margin expanded by 280 basis points to 18.6 per cent from 15.8 per cent a year earlier.
The company's revenue, net profit, EBITDA and margin exceeded CNBC-TV18 poll estimates of Rs 54,110 crore, Rs 4,752 crore, Rs 9,845 crore and 18.2 per cent, respectively.
Jindal Steel Q2 results
Jindal Steel Ltd reported a 21 per cent YoY increase in net profit to Rs 774 crore in Q2 FY27 from Rs 638 crore in the corresponding quarter last year. Revenue rose 43 per cent to Rs 16,679 crore from Rs 11,686 crore, while EBITDA increased 24 per cent to Rs 2,573 crore from Rs 2,081 crore.
However, Jindal Steel's EBITDA margin contracted by 240 basis points to 15.4 per cent from 17.8 per cent a year earlier. The company said its average selling price improved sequentially, supported by a higher share of flat steel products in its sales mix and lower sales of thermo-mechanically treated products within the long steel category.
Domestic sales accounted for 92 per cent of Jindal Steel's total sales in Q2 FY27, compared with 91 per cent in the June quarter.
JSW Steel and Jindal Steel thus recorded higher revenue and profit in Q2 FY27, although their operating margins moved in opposite directions. Shares of Jindal Steel dropped more than a 1.7 per cent to Rs 1012, while cracked 2.6 per cent to Rs 1187 on Friday's session.
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