Jindal Steel reported a weak start to FY27 with consolidated net profit for Q1 at about Rs 843.8 crore, down roughly 43–44% year on year, as higher costs offset a rise in revenue. Revenue from operations rose about 26% to around Rs 155 billion, driven by stronger volumes and higher steel prices, but quarterly results were softer than the previous quarter. The company’s cost of materials climbed sharply, pushing up total expenses and squeezing margins, with EBITDA down and margin narrowing. The company also announced leadership changes, appointing Vidya Rattan Sharma as managing director for two years, along with a new CFO, COO and head of HR. Capex for the quarter was around Rs 1,959 crore and net debt was reduced, with crude steel output and sales increasing year on year. Analysts noted that elevated coking coal costs weighed on margins despite firm domestic steel prices.