India's JSW Steel Ltd on Wednesday posted a 7.4 percent drop in third-quarter net profit, missing estimates, dented by a decline in steel prices.
Net profit came in at 16.24 billion rupees ($226.75 million), for the three months ended Dec. 31, compared with a profit of 17.53 billion rupees a year ago, the company said.
Analysts on average were expecting the Mumbai-headquartered company to report a profit of 17.40 billion rupees, according to Refinitiv data.
Total revenue for the third quarter from all JSW operations jumped 11.2 percent to 203.18 billion rupees from the previous year.
($1 = 71.6200 Indian rupees)