Jindal Stainless Q3 Profit Jumps 26.6% on Strong Volume Growth
India’s Jindal Stainless Ltd reported a 26.6% rise in consolidated profit for the third quarter ended December 31, supported by healthy sales volumes even as steel prices remained largely subdued. The O.P. Jindal Group company posted a profit after tax of ₹8.28 billion, up from ₹6.54 billion in the same quarter last year, while net revenue rose 6.2% to ₹105.18 billion, the company said on Wednesday.
The performance comes amid improving sector sentiment following a rebound in steel prices since December, which analysts attribute partly to government protection measures. India has imposed a three-year import safeguard duty on select steel products to curb inflows, particularly from China—offering longer-term support to domestic producers. Analysts noted that the extended duration reduces uncertainty compared to the earlier temporary 12% duty introduced last year for 200 days.
Jindal Stainless also benefited from strong demand, with sales volume climbing 10.6% to 649,857 tonnes, helping cushion margins despite tepid pricing. The company’s quarterly results reinforce expectations of near-term stability for the steel sector, with analysts suggesting that policy-backed price recovery and steady volumes could continue to aid profitability.
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