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Jindal Steel & Power shares tumble 14% after Q3 profit down 51% YoY to Rs 951 crore
Jindal Steel & Power Ltd (JSPL) saw a 14% drop in share price to Rs 724 following a 51% year-on-year decline in net profit to Rs 951 crore for Q3. Weak steel prices and cheaper imports impacted earnings, despite a 5% rise in sales volume. EBITDA fell 24%, with revenues flat at Rs 13,707 crore.
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