Steel segment driving turnaround at JSPL

Value-added exports, better realisations and capacity expansions bode well for the company

Had it not been for the impairment (one-off) charge of Rs 253 crore on account of loss of fixed assets in an overseas subsidiary, Jindal Steel and Power (JSPL) would have emerged profitable in the March quarter (Q4) after nine consecutive quarters of losses. Excluding this one-off item, the reported net loss of Rs 98 crore would have been in positive territory. Notably, the outlook remains positive.

JSPL continues to see improving performance led by the core steel business. As the tide turned in favour of steel producers and realisations improved in the past one year, JSPL’s concentration on exports and