JSW Steel on Friday reported a 20 per cent decline in its consolidated net profit to Rs 3,343 crore for the March 2022 quarter, dragged by higher expenses.
The company had clocked Rs 4,191 crore net profit in January-March 2020-21, it said in a regulatory filing.
Its total income, however, increased to Rs 47,128 crore in the quarter from Rs 27,095 crore in the year-ago period.
The company’s expenses soared to Rs 41,282 crore in the said period from Rs 20,752 crore a year ago.
JSW Steel Ltd is the flagship company of the diversified USD 13-billion JSW Group, which has a presence in sectors, such as steel, energy, infrastructure, cement and sports.