The JSPL stock was down nearly 9 per cent at Rs. 249.55, after the results were announced, underperforming the broader Sensex and the Nifty. The scrip ended 7.41 per cent down at Rs. 253.20 on the BSE.
The company's total income for the period also came in below expectations at Rs. 5102 crore against estimates of Rs. 5559 crore.
While net profit from steel was down 10 per cent year-on-year to Rs.430 crore, the net profit from power was down 23 per cent to Rs. 218 crore on year.