Jindal Steel & Power Ltd (JSPL) shares fell nearly 14% to Rs 724 in Friday’s intraday trade on the BSE, following a 51% year-on-year decline in its consolidated net profit to Rs 951 crore for the December quarter. Gross revenues remained flat at Rs 13,707 crore.
The profit drop was attributed to weak steel prices and increased imports into India, which pressured earnings.
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