JSW Steel net profit plunges over 85% to Rs 404 crore in Q2

New Delhi: Steelmaker JSW Steel on Friday reported a steep fall of 85.43 per cent in its consolidated net profit at Rs 404 crore in the July-September quarter of the current fiscal, affected by lower income.

The company had posted a net profit of Rs 2,773 crore in the second quarter of the last financial year.

The total income decreased to Rs 39,837 crore in the second quarter of the current fiscal as against Rs 44,821 crore a year ago, JSW Steel said in a regulatory filing.

JSW Steel's expenses were lower at Rs 38,644 crore in the quarter under review against Rs 40,801 crore in the year-ago quarter.