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MUMBAI: JSW Steel has reported a 20 per cent decline in profit after tax at Rs 106.29 crore for the second quarter of 2005-06 against Rs 132.79 crore in the year-ago period.

The company said it faced a squeeze in margins due to steep decline in sales realisation and sharp increase in raw material costs.Net sales during the quarter were Rs 1,540.04 crore against Rs 1,498.56 crore.

Volume growth helped the improvement in sales while realisation fell by 25 per cent.

The company posted an EBIDTA of Rs 393.07 crore. Shares of JSW Steel fell to Rs 217.50 on the BSE on Friday.

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