JSW Steel Profit Plunges 85% in Q2: Lower Income Hits

Oct 25, 2024 14:27

JSW Steel's net profit fell sharply to Rs 404 crore in the July-September quarter, driven by a decline in income. The company's total income decreased to Rs 39,837 crore compared to Rs 44,821 crore in the same period last year.

Photograph: Kind courtesy JSW Steel

New Delhi, Oct 25 (PTI) Steelmaker JSW Steel on Friday reported a steep fall of 85.43 per cent in its consolidated net profit at Rs 404 crore in the July-September quarter of the current fiscal, affected by lower income.

The company had posted a net profit of Rs 2,773 crore in the second quarter of the last financial year.

The total income decreased to Rs 39,837 crore in the second quarter of the current fiscal as against Rs 44,821 crore a year ago, JSW Steel said in a regulatory filing.

JSW Steel's expenses were lower at Rs 38,644 crore in the quarter under review against Rs 40,801 crore in the year-ago quarter.

Source: PTI

MORE NEWS

Federal Bank Q2 Profit Rises 11% to Rs 1,057 Cr

Federal Bank reported an 11% increase in net profit to Rs 1,057 crore in Q2 FY25,...

Ashok Chandra Selected as MD of Punjab National...

FSIB recommends Ashok Chandra, Executive Director of Canara Bank, as Managing Director...

BASF & AM Green Partner for Low-Carbon...

BASF and AM Green B.V. have signed an agreement to explore business opportunities for...

Adani Cement Aims for 140 MTPA Capacity by FY28

Adani Cement CEO highlights increased capex and acquisition strategy to achieve...

Citigroup Sells HDFC Bank Shares Worth Rs 275...

American multinational Citigroup sold 15,79,953 shares of HDFC Bank for Rs 275 crore...

Shree Renuka Sugars Narrows Net Loss in Sep Qtr...

Shree Renuka Sugars reported a consolidated net loss of Rs 22.3 crore in the quarter...

LIC Housing Finance Q2 Profit Rises 11% |...

LIC Housing Finance reported an 11% rise in Q2 profit to Rs 1,324 crore. Despite a...

SpiceJet Launches 32 New Flights for Winter...

SpiceJet has launched 32 new flights for its winter schedule, including domestic and...

Sonowal Reviews Ship Repair Facility & Road...

Union Minister Sarbananda Sonowal reviewed the progress of Northeast's first ship...

Aditya Birla Sun Life AMC Q2 Profit Surges 36%...

Aditya Birla Sun Life AMC reported a 36% year-on-year jump in net profit to Rs 242.4...

JSW Steel Profit Plunges 85% in Q2: Lower Income Hits

You May Like To Read

MORE NEWS