JSW Steel reports consolidated loss before tax at Rs 643 cr in Q1

Since the end of April, operations have gradually been ramped up, and in the months of May and June JSW Steel facilities operated at an average capacity utilisation of 80 per cent

Sajjan Jindal-led JSW Steel reported a consolidated loss before tax of Rs 643 crore in the June 2020 quarter, in stark contrast to a profit before tax of Rs 1,770 crore in the June 2019 quarter, with the pandemic disrupting operations for close to a month.

Consolidated revenue for the period slumped 41 per cent year-on-year to Rs 11,454 crore.

“The outbreak and subsequent measures caused an abrupt disruption and slowdown in economic activity. With significant supply chain constraints, shortage of workforce, and the objective to ensure safety across all areas of operations, the company scaled down /suspended operations towards the end