Sajjan Jindal-led JSW Steel is expected to post a net profit of ₹1,661 crore against ₹3,741 crore logged in the same period last year largely due to lower realisation.

Top line may fall to ₹44,676 crore (₹46,346 crore), as per estimates shared by Bloomberg.

In Q4, the consolidated crude steel production increased 3 per cent year-on-year to 6.79 million tonnes, as per the company’s update shared last month.

In FY’24, the company logged its highest ever annual crude steel production of 26.43 million tonnes, an increase of 9 per cent as against FY23.

The company has embarked on ambitious greenfield project to set up an integrated steel plant of 13 mtpa capacity.

The company has laid the foundation stone for building the steel plant after the Industrial Development Corporation of Odisha handed over 2,958 acres to it recently.

Proposed in 2018, the Odisha government handed over JSW Steel the land it had acquired originally for a 12 mtpa steel project proposed by POSCO.

JSW Steel already owns two captive and merchant iron ore mines in Odisha and is in the process of setting up a pellet plant. The iron ore mined in Odisha are used in the company’s steel plants at Dolvi in Maharashtra and Vijayanagar in Karnataka.

So far, JSW Group has invested about ₹35,000 crore in Odisha and is expected to invest another ₹1.25-lakh crore.