Mumbai, July 14 (SocialNews.XYZ) Jindal Saw Limited on Tuesday reported a 75 per cent year-on-year (YoY) decline in profitability for the quarter ended June 2026 (Q1 FY27).
The iron and steel pipes manufacturer posted a consolidated net profit of Rs 104 crore in the first quarter of FY27, down from Rs 424 crore in the corresponding period last financial year (Q1 FY26).
Revenue from operations rose 9 per cent year-on-year to Rs 4,452 crore, compared with Rs 4,085 crore in the year-ago quarter, as per its stock exchange filing.
However, operating performance remained under pressure. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 41 per cent year-on-year to Rs 396 crore from Rs 671 crore a year earlier.
The company's EBITDA margin contracted sharply to 8.9 per cent from 16.4 per cent in the corresponding quarter last fiscal.
The latest earnings continue the trend of weakening profitability witnessed in the March quarter. In the fourth quarter of FY26, Jindal Saw had reported a 52 per cent year-on-year decline in consolidated net profit to Rs 139.4 crore, while revenue from operations fell 8 per cent to Rs 4,633.5 crore.
EBITDA had declined nearly 35 per cent to Rs 480.9 crore, with the operating margin narrowing to 10.4 per cent from 14.6 per cent a year earlier.
Investor sentiment remained subdued following the June quarter results. Shares of Jindal Saw fell as much as 4 per cent during afternoon trade on the National Stock Exchange (NSE). The stock touched an intra-day low of Rs 273.10 before trading around Rs 257.70.
However, it recovered later and closed 3.2 per cent lower.
Jindal Saw is among India's leading manufacturers of submerged arc welded (SAW) pipes, ductile iron pipes and seamless tubes. The company serves a wide range of sectors, including oil and gas, water transportation, infrastructure and industrial applications, across domestic as well as international markets.
Source: IANS
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