JSPL's year-on-year consolidated loss nearly doubles

KOLKATA: JSPL's consolidated net loss nearly doubled to Rs 1082 crore in Q1 FY16 against Rs 542.42 crore in Q1 FY15 on low steel demand and seasonal impact of monsoon on its long steel products.

The company's total income stood at Rs 4655.45 crore for the quarter ended June 30, 2016, against Rs 4405.73 crore for the quarter ended June 30, 2015.

JSPL’s standalone net loss went down to Rs 276.65 crore in Q1 FY16 against Rs 371.71 crore in the same period last year. Total Income decreased from Rs 3126.16 crore for the quarter ended June 30, 2015 to Rs 3123.5 crore for the quarter ended June 30, 2016.

The JSPL scrip closed at Rs 86.55 on the BSE on Thursday up 1.88% over its previous close.The company said it introduced a number of high value grade steels in defence,rail and automotive segments during the first quarter ended June 30, 2016.