JSW Ispat Steel today reported Rs 345.30 crore loss in the second quarter of the current fiscal due to costlier raw material and weak rupee.
The company, which was earlier known as Ispat Industries, had clocked Rs 331.62 crore net loss in July-September quarter of the last fiscal, it said in a filing to the BSE.
Raw material consumption of JSW Ispat rose to Rs 1,817.32 crore from Rs 1,471.26 crore a year ago.
The company said the financial results during the quarter had been affected as a result of "unusal steep and significant depreciation in the value of Indian Rupee against US Dollar".
"Consequently, loss for the quarter is higher by 95.23 crore on account of net unrealised foreign exchange fluctuation ...," it said.
Net sales of the company, however, rose to Rs 2,633.41 crore during the reporting quarter against Rs 2,154.97 crore in the corresponding quarter last fiscal.