JSW Steel on Wednesday posted a 7.4 per cent drop in third-quarter net profit, missing estimates, dented by a decline in steel prices.
Net profit came in at Rs 1,624 crore ($226.75 million), for the three months ended December 31, compared with a profit of Rs 1,753 crore a year ago, the company said.
Analysts on an average were expecting the Mumbai-headquartered company to report a profit of Rs 1,740 crore, according to Refinitiv data.
Total revenue for the third quarter from all JSW operations jumped 11.2 per cent to Rs 20,318 crore from the previous year.
($1 = 71.62)
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.