JSW Steel posts Rs 582-cr loss for June qtr, income dips to Rs 11,914 cr

JSW Steel on Friday fell into the red, posting Rs 582 crore consolidated loss for the quarter ended June 2020.

The company had posted a net profit of Rs 1,008 crore during the corresponding quarter of the previous financial year, JSW Steel said in a BSE filing.

Its total income during April-June 2020 also declined to Rs 11,914 crore, compared with Rs 19,953 crore in the year-ago period.

The firm's total expenses also dropped to Rs 12,504 crore, against Rs 18,164 crore a year ago.

Part of the JSW Group, JSW Steel Ltd has presence in sectors such as steel, energy, infrastructure and cement.