On a consolidated basis, the net loss of JSW Ispat Special Products reported Rs 96.87 crore in the October-December quarter of FY23 as against a net loss of Rs 28.24 crore posted in the October-December quarter of FY22.

Net sales slipped at 25.19% to Rs 1,097.55 crore in the October-December quarter of FY22 from Rs 1,465.32 crore recorded in the October-December quarter of FY22.

The firm reported a pre-tax loss of Rs 96.87 crore in the October-December quarter of FY23 compared to a pre-tax loss of Rs 28.24 crore registered in the October-December quarter of FY22.

The company’s total expenditure was reduced by 19.77% to Rs 1,207.20 crore in the October-December quarter of FY23 from Rs 1,504.70 posted in the October-December quarter of FY22. The cost of materials consumed declined 13.06% yearly to Rs 945.32 crore in the October-December quarter of FY23.

The company was acquired jointly by a consortium of JSW Steel Limited through the corporate insolvency resolution process (CIRP) and AION Investments Private Limited (AION) as per the Insolvency and Bankruptcy Code 2016 (IBC). JISPL steel unit at Raigarh and a steel unit in Raipur are located in Chhattisgarh.

On the Bombay Stock Exchange (BSE), JSW Ispat Special Products’ shares were up 0.47% to Rs 32.20.