JSW Ispat Steel reports a loss of Rs 345.30 crore in Q1

JSW Ispat Steel reported results for the first quarter ended September 30, 2011.

The company has reported a net loss of Rs 345.30 crore for the quarter as compared to a net loss of Rs 331.62 crore for the corresponding quarter of the previous year due to costlier raw material and weak rupee. The company’s total income has increased by 25.64% at Rs 2744.76 crore for the first quarter of the current fiscal from Rs 2184.58 crore for the corresponding quarter of the previous year.

Raw material consumption of the company rose to Rs 1,817.32 crore from Rs 1,471.26 crore a year ago.

The company is one of the leading integrated steel makers and the largest private sector producer of hot rolled coils in India. The company has a capacity of 4.6 mt and is the leader in the national specialty steel market.