💨 Abstract

India's JSW Steel reported a 70% drop in third-quarter profit due to lower prices and weak demand. Analysts expected a 62% decline. The drop is attributed to increased Chinese steel imports and muted domestic demand due to reduced construction activity and project delays after the national elections. As a result, JSW Steel's revenue from operations decreased by 1.3%.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖