Auto demand isn't pent-up, has really come back: JSW Steel's Seshagiri Rao

In a Q&A, the firm's jt MD and group CFO is confident that steel demand will sustain but is sure that the 15-16 mn demand already lost won't be recovered

In a seasonally weak quarter, JSW Steel rebounded from a loss of Rs 582 crore in the June quarter with a consolidated net profit of Rs 1,595 crore in September. In an interview, JSW Steel’s joint managing director and group chief financial officer, Seshagiri Rao, tells Aditi Divekar and Ishita Ayan Dutt that there has been a recovery from May onwards with year-on-year growth in some segments. Edited excerpts:

Q. JSW Steel saw an increase in top line in the July-September quarter. Was this pent-up demand?

A. Indian steel demand in Q1 fell by 50 per cent, whereas in Q2