December 09, 2025 01:37 am (IST)

Make this your homepage

All Finance

Race against time! Indian Navy sends four more warships to Cyclone Ditwah-hit Sri Lanka | $2 billion mega deal! HD Hyundai to build shipyard in Tamil Nadu — a game changer for India | After 8 years of legal drama, Malayalam actor Dileep acquitted in 2017 rape case — what really happened? | Centre imposes temporary fare caps as ticket prices defy gravity amid IndiGo meltdown | 'Action is coming': Aviation Minister blames IndiGo for countrywide air travel chaos | In front of Putin, PM Modi makes bold statement on Russia-Ukraine war: ‘India is not neutral, we side with peace!’ | Rupee weakens following RBI repo rate cut | RBI slashes repo rate by 25 basis points — big relief coming for borrowers! | 'Mamata fooled Muslims': Humayun Kabir explodes after TMC suspends him over 'Babri Masjid-style mosque' demand; announces new party | Mosque in the middle of Kolkata airport? Centre confirms flight risks, BJP fires at Mamata

JSW Steel post net loss due to impairment charges and decline in sales

India Blooms News Service | | Jan 30, 2016, at 02:51 am

#JSW Steel # impairment charges # decline in sales

Mumbai, Jan 29 (IBNS): JSW Steel, a part of the diversified $11 billion JSW Group, reported its results for the third quarter of financial year 2016 (Q3FY16) and the nine month ended Dec 31, 2015, on Friday, where it posted a net loss of Rs 923 crore compared to a profit of Rs 328 crore in the corresponding period in the previous year, mainly due to impairment charges and decline in sales.

The company posted net sales of Rs 8,621 crore in the reported quarter, down 33% from same period in the previous year due to lower realisations and also a 16% decline in sales volume on account of planned shut-down at three of the company's seven blast furnaces.

Revenue from exports dropped to 12% in the reported quarter, down from 29% in the year-ago quarter.

In its press release, the company said that the blast furnace at Vijayanagar, which underwent a planned shut-down for relining and modification from August 2015 onwards, is expected to get commissioned in the fourth quarter. The blast furnace at Dolvi and one of the blast furnaces at Salem that were shut-down for capacity expansion are likely to get commissioned in the fourth quarter too. Other ongoing projects are progressing satisfactorily and are likely to complete as per schedule.

JSW Steel is a leading integrated steel company in India with an installed steel-making capacity of 14.3 MTPA. JSW Steel’s plant at Vijayanagar is one the largest single location steel producing facility in the country with a capacity of 10 MTPA.

JSW Group's businesses consist of steel, energy, infrastructure, cement, and JSW Ventures.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm

Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am

In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm