 "JSW Steel Q3 net profit falls over 85% to Rs 474 crore on higher expenses")
JSW Steel on Friday posted a sharp 85.50 per cent fall in its December quarter consolidated net profit to Rs 474 crore mainly on account of higher expenses.
The firm had clocked a net profit of Rs 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 Rs 39,322 crore from Rs 38,225 crore a year ago.
Expenses were also higher at Rs 38,288 crore as against Rs 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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