JSW Steel posts lower-than-expected PAT at Rs 836 crore, up 29% y-o-y

Higher net sales volume lends firm support to bottomline even as realisations take a hit due to cheap imports

Sajjan Jindal-led JSW Steel on Tuesday reported a lower-than-expected consolidated net profit of Rs 836 crore in the September quarter, up 29 per cent on a year-on-year basis on the back of higher revenues even as the increased cost of raw material weighed on the bottomline.

The topline stood at Rs 16,818 crore in the period under review, up 17 per cent from the corresponding period last year mainly due to higher volumes as realisations remained subdued with cheap imports impacting the domestic pricing scenario for flat steel products.

"Net sales realisations were unattractive during the quarter when compared with