Jindal SAW Limited’s Q3 Financial Performance: Decline in Profits and Revenue
India’s Jindal SAW Limited, a key player in the production of iron ore pellets and steel pipes, has reported a decline in its financial performance for the third quarter of the fiscal year 2024-25. According to a statement released on January 27, the company posted a consolidated net profit of INR 5.06 billion ($58.59 million), marking a year-on-year decline of 5.02%. Despite this, the company continues to be a significant entity in the iron and steel sector, with a solid track record of production and sales.
Revenue Dip and Declining Sales
Jindal SAW’s total revenue for the quarter amounted to INR 52.71 billion ($619.61 million), which represents a drop of 6.8% compared to the same period last year. This reduction in revenue can be attributed to a combination of lower sales volumes and price fluctuations in the global steel market. The company’s performance reflects the current market conditions and challenges faced by steel producers worldwide, especially in light of fluctuating raw material costs and trade dynamics.
Sales Volume Decline in Iron and Steel Pipes
One of the key areas contributing to Jindal SAW’s lower revenue is the decline in iron and steel pipe sales. The company sold 432,000 metric tons of iron and steel pipes during the third quarter, a decrease of 2.5% compared to the same period in 2023. This dip in sales volumes is concerning, as it highlights the slowdown in demand for steel pipes, which are a crucial product for industries such as construction, energy, and infrastructure development.
