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. Domestic steel mills have grappled with an influx of steel imports from China over the past 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.

JSW Steel's balance sheet remains stable, with a net debt-to-equity ratio of 1.00x and a net debt-to-EBITDA ratio of 3.57 times.

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.

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.

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: 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

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