MUMBAI : JSW Steel, the country's second largest private steel company, missed profit estimates for the December 2019 quarter by a wide margin. The company reported a consolidated net profit of ₹187 crore for October-December, 88% lower than the ₹1603 crore it reported in the year-ago period. Steel sales rose 13% quarter-on-quarter to 4.03 million tonnes. The company's management maintained its FY20 guidance of 16.5 million tonnes of steel production and 15.5 million tonnes (mt) of sales. As a result, blended net sales realisations (the weighted average price of steel sales) fell 7% sequentially and 23% year-on-year in the December quarter.

Source: Mint January 24, 2020 10:41 UTC