JSW Steel today reported a 44.10 per cent fall in consolidated net profit at Rs 626 crore for the quarter ended June 30, hit by higher expenses.
The Sajjan Jindal-led company had posted a net profit of Rs 1,120 crore in the year-ago period.
Total revenue from operations, however, rose 23.98 per cent to Rs 15,977 crore as against Rs 12,886 crore reported in the June quarter of the previous fiscal, JSW Steel said in a BSE filing.
Expenses were at Rs 15,124 crore in the quarter under review, up 32.86 per cent as compared to Rs 11,383 crore in the year-ago period.
Shares of the company closed 0.70 per cent higher at Rs 222.95 apiece on the BSE today.
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