New Delhi: JSW Steel on Friday posted over 85 per cent fall in its consolidated net profit at Rs 839 crore during the June 2022 quarter, mainly on account of higher expenses.
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The company's profit stood at Rs 5,900 crore during the April-June period of the preceding 2021-22 fiscal, JSW Steel said in a regulatory filing.
However, its total income during April-June 2022 rose to Rs 38,275 crore from Rs 29,100 crore in the year-ago quarter.
Expenses were higher at Rs 36,977 crore as against Rs 20,804 crore in April-June 2021.
JSW Steel is the flagship business of the USD 22-billion diversified JSW Group, which has its presence in sectors such as energy, infrastructure, cement, paints, sports and venture capital.
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