JSW Steel Ltd.

JSW Steel has reported consolidated net loss of Rs 47.89 crore for the third quarter ended in December due to forex losses, higher raw material costs and the hit taken by group firm JSW Ispat Steel. The company had reported a consolidated net profit of Rs 291.72 crore during the October-December quarter in 2010-11.

The company’s net sales, however, rose 41% to Rs 8,404.66 crore during Q3 FY12, due to higher revenues from the steel business.

The earnings were marred by foreign exchange loss of Rs 558.72 crore and increase in raw material costs by over 50% to Rs 5,639.38 crore. JSW's net finance charges also rose by over 80% to Rs 355.74 crore.