JSW Steel Ltd (NSE: JSWSTEEL) has announced financial results for the first quarter of fiscal 2023, reporting a decrease in net profit despite strong revenue growth.
Net income dropped sharply to ₹839 crores or ₹3.46 per share in the first three months of fiscal 2023 from ₹5,900 crores or ₹24.42 per share in the prior-year quarter.
Meanwhile, the company’s revenues climbed 32% annually to ₹38,275 Crores. Operating EBITDA was ₹4,309 Crores in the first quarter, down 58% year-over-year.