Jindal Steel & Power said that it has seen a marginal decrease in its quarterly profits. Lower realisations in the power and better prices on the steel front have put the financial where they are today.

Talking to Reuters, Sushil Maroo, director said, "Last year this quarter was extraordinarily good for power because of the elections in the country. Rates have now stabilized."

Net profit dropped by 3 per cent to end at Rs. 9.57 billion for the April-June quarter despite the fact that sales went up by 9 per cent to end at Rs. 30 billion.

JSW's standalone profit was up by 45 per cent to Rs. 4.36 billion and was the effect of the improvement in the steel business. Higher production coupled with better prices this year, than last year are the key factors for the improvement.

Sushil added, "Steel prices are right now on the lower side. Prices will stabilize around the current level for the next two quarters."

He also added that the rising prices of coking coke are impacting the prices of steel. But since the company has captive plants and ore mines, the impact is less.

Monsoons are also reducing the demand for steel.