Sajjan Jindal-led JSW Steel Friday reported a sharp fall of 48 per cent in consolidated net profit at Rs 1,495 crore for the fourth quarter ended March 31, 2019, due to increase in expenses.
The company had posted a consolidated net profit of Rs 2,879 crore in the year-ago quarter, JSW Steel said in a BSE filing.
The company's consolidated total income during January-March period was at Rs 22,421 crore as against Rs 21,381 crore a year ago.
Total expenses rose to Rs 20,058 crore from Rs 17,794 crore during the quarter ended March 2018.
JSW Steel is a part of the diversified JSW Group, which has presence in steel, energy, infrastructure, cement and JSW Ventures.
It is the leading integrated steel company in India with an installed steel-making capacity of 18 million tonne per annum.