India's JSW Steel reported a bigger-than-expected drop in third-quarter profit on Friday as lower prices and tepid demand continued to hurt the country's top steelmaker. Domestic steel mills have grappled with an influx of steel imports from China over the past year,

JSW Steel reported a 70% drop in net profit for the December quarter, citing rising expenses. The company's revenue dipped slightly, and its capex increased significantly. Steel production and sales showed growth,

Hit by large scale imports and sharp fall in prices, JSW Steel has reported that its December quarter net profit plunged to ₹719 crore against ₹2,450 crore logged in the same period last year

India's JSW Steel reported a bigger-than-expected drop in third-quarter profit on Friday as lower prices and tepid demand continued to hurt the country's top steelmaker. Its consolidated net profit plunged 70% year-on-year to 7.

JSW Steel reported a 70% decline in net profit to Rs 719 crore in Q3, attributed to increased expenses. Total income slightly decreased and steel production saw modest growth. Despite challenges, EBITDA rose by 3% QoQ due to better volumes and reduced costs.

JSW Steel posted revenue from operations at Rs 41,378 crore, down 1.34 per cent as against Rs 41,940 crore recorded during the third quarter of previous financial year.

India's JSW Steel reported a bigger-than-expected drop in third-quarter profit on Friday as lower prices and tepid demand continued to hurt the country's top steelmaker.

The steelmaker was expected to post a significant fall in its third quarter net profit due to weaker realisations, with higher sales volumes providing some offset.

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Despite record production and sales, JSW Steel's Q3 revenue declined due to falling steel prices and increased imports.