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's Q3FY25 net profit slumped 70% YoY to ₹719 crore due to weak steel prices, despite record production of 7.03 million tonnes and a 12% rise in sales volumes.

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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 70.3% year-on-year (YoY) drop in consolidated net profit for Q3FY25, with earnings falling to Rs 717 crore due to declining steel prices, media reports said.

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.

Billionaire Sajjan Jindal-led JSW Steel has declared its earnings for the October-December 2024 period, reporting a major drop in its net profit. The JSW Group company’s revenue from operations also declined on a year-on-year basis in the Q3 of FY25.