JSW Steel Q3 net profit falls over 85 % to ₹474 crore

JSW Steel on Friday posted a sharp 85.50 per cent fall in its December quarter consolidated net profit to ₹474 crore mainly on account of higher expenses. The firm had clocked a net profit of ₹4,516 crore in the year-ago period, it said in a regulatory filing.

Total income during the October-December quarter of the ongoing fiscal rose to ₹39,322 crore from ₹38,225 crore a year ago.

Expenses were also higher at ₹38,288 crore as against ₹31,986 crore.

Part of the O P Jindal Group, JSW group has a presence in sectors such as steel, energy, infrastructure, cement and sports.

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