JSW Ispat Special Products reported a consolidated net loss of Rs 96.87 crore in Q3 FY23 as against a net loss of Rs 28.24 crore posted in Q3 FY22.
Net sales tumbled 25.19% to Rs 1,097.55 crore in quarter ended 31 December 2022 from Rs 1,465.32 crore recorded in Q3 FY22.
The firm reported a pre tax loss of Rs 96.87 crore in Q3 FY23 as against a pre tax loss of Rs 28.24 crore registered in Q3 FY22.
The company's total expenditure reduced by 19.77% to Rs 1,207.20 crore in Q3 FY23 from Rs 1,504.70 posted in Q3 FY22. Cost of materials consumed declined 13.06% year on year to Rs 945.32 crore in Q3 FY23.
JSW Ispat Special Products, in August 2018, was acquired jointly by a consortium of AION Investments Private Limited (AION) and JSW Steel Limited through corporate insolvency resolution process (CIRP) as per Insolvency and Bankruptcy Code 2016 (IBC). JISPL has integrated steel unit at Raigarh and a steel unit in Raipur, both these units are located in State of Chhattisgarh.
Shares of JSW Ispat Special Products were up 0.47% to Rs 32.20 on the BSE.
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