JSW Steel posts Rs 582 cr loss for Jun quarter

The company had posted a net profit of Rs 1,008 crore during the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing. Its total income during April-June 2020 also declined to Rs 11,914 crore, compared with Rs 19,953 crore in the year-ago period.

JSW Steel on Friday fell into the red, posting Rs 582 crore consolidated loss for the quarter ended June 2020. The company had posted a net profit of Rs 1,008 crore during the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing.

Its total income during April-June 2020 also declined to Rs 11,914 crore, compared with Rs 19,953 crore in the year-ago period. The firm's total expenses also dropped to Rs 12,504 crore, against Rs 18,164 crore a year ago.

Part of the JSW Group, JSW Steel Ltd has presence in sectors such as steel, energy, infrastructure and cement..