JSW Steel Profit At Rs 1,624 Crore In December Quarter, Lags Street Estimates

Dented by a decline in steel prices, JSW Steel's profit dropped 7.4 per cent from that of Rs 1,753 crore a year ago.

JSW Steel Profit At Rs 1,624 Crore In December Quarter, Lags Street Estimates

Total revenue for the quarter from all JSW operations jumped 11.2% to Rs 20,318 crore

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)

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