JSW Steel posts three-fold jump in profit, lines up capacity expansion

What happened: JSW Steel reported a three-fold jump in profit and approved adding 5 million tonnes of capacity at its Utkal facility in Odisha, along with other projects including expansion at JSW JFE Steel. Key numbers: Revenue from operations rose 21% on year to ₹54,486 crore, or 31% higher adjusted for the deconsolidation of Bhushan Power. Why it matters: The company retained its guidance of spending ₹22,000-₹24,000 crore on capital expenditure this year, with ₹11,136 crore already spent in the first half. Net debt to Ebitda stood at 1.28 times, down from 1.46 times.

JSW Steel reported a three-fold jump in profit and approved adding 5 million tonnes of capacity at its Utkal facility in Odisha, along with other projects including expansion at JSW JFE Steel.

The company retained its guidance of spending ₹22,000-₹24,000 crore on capital expenditure this year, with ₹11,136 crore already spent in the first half. Net debt to Ebitda stood at 1.28 times, down from 1.46 times.