During the nine-month period, JSW Steel posted a profit after tax of Rs 409.30 crore, a 70 per cent dip over the year-ago period. The firm had a PAT of Rs 1,358.01 crore in the third quarter of last fiscal.

The total income rose 35.40 per cent to Rs 10,829.62 crore during the nine-month period, from Rs 7,998.41 crore in the year-ago period. Besides, the board would also consider buying back of Foreign Currency Convertible Bonds (FCCBs) from the international bank.

Poll

Who will win the Punjab Elections?

BJP 32.86%

AAP 41.43%

INC 25.71%

Submit

View All In Poll

The board has resolved to explore opportunities to buy back a portion of the company's outstanding FCCBs, the company said.

Last month, the Reserve Bank of India had allowed firms to buy back FCCBs prematurely in rupees if they are at a minimum discount of 25 per cent on the book value.

According to RBI guidelines, the buyback amount is limited to $50 million of the redemption value per company and the resources for the buyback must be drawn out of the firm's internal accruals.