💨 Abstract

India's Jindal SAW, a steel pipe manufacturer, reported a 5% drop in Q3 profit due to subdued domestic demand caused by delayed government projects and slower construction activity. The company's sales of iron and steel pipes decreased by 2.5%. The year-ago quarter had seen robust demand due to government spending ahead of elections, but demand has since cooled off.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖