JSW Steel Q3 PAT down 10% to Rs 1,603 cr on higher costs; top line up 11%

Rising iron ore and coking coal prices, depreciation of acquired global assets drag bottomline

Sajjan Jindal-led JSW Steel on Wednesday reported a lower-than-expected consolidated net profit of Rs 1,603 crore for December quarter, down 10 per cent from the same period last year on the back of increased expenses which jumped due to higher raw material cost such as iron ore and coking coal.

The topline for the October-December quarter stood at Rs 20,318 crore, up 11 per cent over same period last year, mainly due to higher realisations achieved through long-term contracts, improved sales in domestic market and a better product mix, even as domestic steel prices were lower in the period under