JSPL’s steel production went up 32% in the quarter to 1.72 million tonne at the consolidated level.
Jindal Steel and Power (JSPL) consolidated net loss widened to Rs 424.7 crore for the three months ended March 31, 2018, from a net loss of Rs 100 crore in the corresponding period last year, mainly due to higher expenses and finance costs coupled with a one-time regulatory payment.
As cost of material increased to Rs 2,992.5 crore from Rs 2,084 crore a year ago, JSPL had to spend Rs 437.6 crore as an ‘exceptional item’, compared with a gain of Rs 253.4 crore on this account in Q4 FY17. JSPL’s steel production went up 32% in the quarter to 1.72 million tonne at the consolidated level.
“As global economic situation strengthens, investment levels are set to rise across geographies,” JSPL said.
The company’s consolidated revenues stood at Rs 8,599 crore, a rise of about 27% y-o-y.