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.

JSW Steel posted revenue from operations at Rs 41,378 crore, down 1.34 per cent as against Rs 41,940 crore recorded during the third quarter of previous financial year.

JSW Steel reported a 70% decline in net profit to Rs 719 crore in Q3, attributed to increased expenses. Total income slightly decreased and steel production saw modest growth. Despite challenges, EBITDA rose by 3% QoQ due to better volumes and reduced costs.

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.

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.

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.

The company reported a decline in third-quarter profit (Q3FY25), impacted by lower prices and subdued demand, which continued to affect the country's leading steelmaker

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