New Delhi: Sajjan Jindal-led JSW Steel on Friday reported a sharp 87.42 percent decline in consolidated net profit to Rs 188 crore for the quarter ended on 31 March, 2020, mainly on account of lower-income.
The company had posted a consolidated net profit of Rs 1,495 crore in the year-ago quarter, JSW Steel said in a BSE filing.
JSW Steel’s Q4 earnings fall substantially from the same quarter last year.
Co’s board approves raising up to Rs 14,000 cr via equity and debt.
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Consolidated total income during the January-March period was at Rs 18,009 crore, down from Rs 22,421 crore in the same quarter a year ago.
Total expenses were also down at Rs 17,056 crore from Rs 20,058 crore during the quarter ended March 2019.
JSW Steel is a part of diversified JSW Group, which has a presence in steel, energy, infrastructure, cement and JSW Ventures.