JSW lspat Special Products' net loss narrows to Rs 36.85 cr in Sep qtr

JSW lspat Special Products Limited on Tuesday said its standalone net loss has narrowed to Rs 36.85 crore during the quarter ended September.

In a BSE filing, the company said it had clocked a loss of Rs 62.06 crore in the same quarter of the preceding 2020-21 fiscal.

The company's total income during the July-September quarter rose to Rs 1,442.34 crore from Rs 957.84 crore in the year-ago period.

The expenses were at Rs 1,479.19 crore as against Rs 1,019.90 crore a year ago.

In August 2018, a consortium of Mauritius-based Aion Investments Private Limited (AION) and JSW Steel Limited acquired Monnet Ispat and Energy Limited (MIEL) and later renamed it JSW lspat Special Products Limited.

The company operates a 1.5 million tonne per annum (MTPA) integrated steel plant in Raigarh where it manufactures hot rolled plates, rebars, and structure profiles for the infrastructure and construction industry.