JSW Steel posts Q1 loss as steel prices fall

MUMBAI (Reuters) - JSW Steel Ltd on Wednesday posted its first consolidated quarterly loss in seven quarters, hurt by a sharp fall in steel prices and a flood of cheap imports of the alloy into the country.

The company reported a consolidated net loss of 1.07 billion rupees ($16.8 million) for its fiscal first quarter ended June 30, compared with a net profit of 6.56 billion rupees a year earlier.

($1 = 63.8400 rupees)

(Reporting by Aman Shah in Mumbai; Editing by Prateek Chatterjee)