Financial results in H2FY23 will be better than first half: JSW Steel's Rao

In a Q&A, the Jt MD and CFO of the company says the worst is over as higher volumes, better demand and lower raw material cost play out in the coming quarters

JSW Steel logged a consolidated net loss of Rs 848 crore in Q2FY23, due mainly to a slump in steel prices and global headwinds. In a conversation, JSW Steel joint managing director and group chief financial officer, Seshagiri Rao, tells Ishita Ayan Dutt that the worst is behind as higher volumes, better demand and lower raw material cost play out in the coming quarters. Edited excerpts:

JSW Steel’s loss in Q2 was unexpected. Is the worst over?

Yes, I think so. For one, demand in the second half will be much better. Then, the raw material prices corrected in Q2,