New Delhi, Jan. 27 -- JSW Steel share price dropped more than 3.5% during Monday's trading session after the steel giant reported a decline of over 70% in consolidated net profit to Rs.719 crore for the December quarter, primarily due to rising expenses. In the same quarter last year, it had recorded a net profit of Rs.2,450 crore, according to a statement from the company released on the stock exchange.

The company revealed that the Profit after Tax for the quarter was Rs.719 crore, which includes an exceptional charge of Rs.103 crore. The total income for the recent third quarter decreased to Rs.41,525 crore compared to Rs.42,134 crore from the previous year. During this reporting period, the company's expenses rose to Rs.40,250 crore,...