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.

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.

Results: JSW Steel reported consolidated net profit for the December quarter at Rs719 declined 70% year on year over ₹2450 Crore in the year ago quarter

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 company posted its highest-ever quarterly crude steel production at 7.03 million tonnes (MT), higher by 2% year-on-year and 4% quarter-on-quarter. Saleable steel sales stood at 6.71 MT.

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. Eight persons wer

Results: The profit for the same period last year was Rs 2,415 crore. Revenue from operations too declined 1% YoY to Rs 41,378 crore. EBITDA for the quarter was Rs 5,579 crore, with a 13.5% margin as lower coking coal costs and higher volumes offset weaker steel prices.