JSW Steel's Q3 consolidated net profit plunges 87%

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SME Times News Bureau | 24 Jan, 2020
JSW Steel on Friday reported a 87 per cent decline in its consolidated profit during the quarter ended December at Rs 211 crore against Rs 1,624 crore in the same period of the previous year.

The company recorded a total income of Rs 18,182 crore during the period under review, lower by 10.67 per cent from Rs 20,355 crore earned during the corresponding quarter of the last financial year.

In a regulatory filing, the company said that its crude steel production during the October-December quarter stood at 40.2 lakh tonne, 5 per cent higher on a quarter-on-quarter basis. However, on a year-on-year basis, the production was lower by 5 per cent, due to extended monsoon which impacted operations at Dolvi and Vijayanagar, it said.