JSW Steel quarterly profit falls 44%, but beats estimates | Business Standard–02.08.2017

India’s biggest steel producer, JSW Steel Ltd, said on Tuesday net profit fell 44% in the quarter ended June but outperformed analysts’ estimates.

Net profit for the Mumbai-based steelmaker’s first quarter dropped to Rs 6.26 billion ($97.70 million), from 11.20 billion a year earlier.

Analysts on average had expected net profit of Rs 5.83 billion, according to Thomson Reuters data.

($1= Rs 64.0750)

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