💨 Abstract

JSW Steel reported a larger-than-expected 70% drop in third-quarter profit due to lower prices, increased imports, and reduced domestic demand. Sales volumes picked up, but revenue fell 1.3%. EBITDA declined 22%, but was higher than expectations due to higher sales and lower coking coal cost. The company expects a recovery in government spending in the fourth quarter, anticipating 10% growth for the fiscal year.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖