Nanjing Steel sees reduced net profit in Q1

Jiangsu Province-based Chinese steel producer Nanjing Iron and Steel Co. Ltd (Nanjing Steel) has announced that in the first quarter of the current year it registered an operating revenue of RMB 4.801 billion ($0.74 billion), declining by 23.27 percent year on year, with a net profit of RMB 11.1328 million ($1.71 million), down 85.08 percent year on year.