The company had clocked a net profit of Rs 62.38 crore in the year-ago period, it said in a BSE filing.
Total consolidated income of the firm, however fell by 15 per cent to Rs 10,697.52 crore in January-March quarter of last fiscal against Rs 12,599.70 crore in 2014-15.
The imposition of minimum import price on various steel products during the quarter provided some relief and even though domestic iron ore prices increased, the firm benefited to some extent on account of lower coking coal prices, it said in a statement.
The furnaces at Vijayanagar and Salem works were re-commissioned in February 2016 and the one at Dolvi was re-commissioned only in March 2016.
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As a result, the company has been able to record crude steel production for the quarter at 3.21 million tonnes (MT), up 5 per cent year-on-year and 19 per cent quarter-on-quarter. Saleable Steel sales volume stood at 3.28 MT, up 7 per cent on annual basis and 29 per cent on sequential basis.
For the entire 2015-16 fiscal, JSW Steel reported a consolidated net loss of Rs 741.95 crore. In the preceding fiscal, it recorded a net profit of Rs 1,796.57 crore. Total consolidated income was lower at Rs 41,878.88 crore from Rs 52,971.51 crore during the period.
For 2015-16, the firm recorded a crude steel production of 12.56 MT, while saleable steel sales volume stood at 12.13 MT.
Reacting to the results, shares of the company rose by 1.45 per cent to settle at Rs 1310.35 apiece on the BSE.
"We expect Indian steel demand to grow by about 6 per cent in 2016-17. Government's measures to pump prime the economy and progress on various policy reforms underpin a constructive medium term demand outlook," it said.
However, this also makes India an attractive export destination for steel surplus countries, the firm added.
Indian economy continues to recover gradually as public capex and foreign direct investment continue to improve - infrastructure project awards are seeing a pick up with higher budgetary allocations, it said.