Finance Update Uncategorized

JSW Steel Q3 2019 quarterly net profit slips 7.4%

  • JSW Steel Ltd on Wednesday posted a 7.4 percent drop in third-quarter net profit, missing estimates, dented by a decline in steel prices.
  • Net profit came in at Rs 1,624 crore ($226.75 million), for the three months ended December 31, compared with a profit of Rs 1,753 crore a year ago, the company said.

2018-06-21T132533Z_1_LYNXMPEE5K1EE_RTROPTP_3_JSW-STEEL-DEBT-768x551.jpg

JSW Steel Ltd on Wednesday posted a 7.4 percent drop in third-quarter net profit, missing estimates, dented by a decline in steel prices.

Net profit came in at Rs 1,624 crore ($226.75 million), for the three months ended December 31, compared with a profit of Rs 1,753 crore a year ago, the company said.

Analysts on average were expecting the Mumbai-headquartered company to report a profit of Rs 1,740 crore, according to Refinitiv data.

Total revenue for the third quarter from all JSW operations jumped 11.2 percent to Rs 20,318 crore from the previous year.

⇓ Subscribe with your Email to get daily updates.[jetpack_subscription_form show_only_email_and_button=”true” custom_background_button_color=”#362e77″ custom_text_button_color=”#ffffff” submit_button_text=”Subscribe” submit_button_classes=”wp-block-button__link has-text-color has-white-color has-background has-dark-blue-background-button-color” show_subscribers_total=”false” ]

Leave a Reply