1. JSW Steel reports $136 mln loss in Q3

JSW Steel reports $136 mln loss in Q3

JSW Steel, which had reported a net profit of 3.29 billion rupees in the year-ago quarter, said the latest consolidated results included a one-off charge of 21.22 billion rupees on impairment of assets.

By: | Mumbai | Updated: January 29, 2016 5:15 PM
JSW infrastructure Consolidated net sales fell about a third from a year earlier to 86.21 billion rupees for its fiscal third quarter to Dec. 31, JSW Steel said in a regulatory filing on Friday.

India’s JSW Steel Ltd  reported a consolidated net loss of 9.23 billion rupees ($136 million) for the December quarter hurt by a one-time charge and as the steel sector struggles with weak demand and high debt.

JSW Steel, which had reported a net profit of 3.29 billion rupees in the year-ago quarter, said the latest consolidated results included a one-off charge of 21.22 billion rupees on impairment of assets.

Consolidated net sales fell about a third from a year earlier to 86.21 billion rupees for its fiscal third quarter to Dec. 31, JSW Steel said in a regulatory filing on Friday.

Tags: JSW Steel
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