JSW Ispat Special Products Q1 steel production up 76% YoY

JSW Ispat Special Products (JSIPL) recorded 76% YoY rise in crude steel production to 0.14 Million Tonnes (MT) in Q1 FY22 from 0.08 MT in Q1 FY21.

Jul 09, 2021 11:07 IST capital market

The companys crude steel production has, however, declined by 6% last quarter compared with 0.15 MT in Q4 FY21.

JSW Ispat Special Products (formerly known as Monnet Ispat and Energy) was acquired jointly by a consortium of AION Investments (AION) and JSW Steel through Corporate Insolvency Resolution Process (CIRP) as per Insolvency and Bankruptcy Code 2016 (IBC) in August 2018. JISPL has integrated steel unit at Raigarh and a steel unit in Raipur; both these units are located in State of Chhattisgarh.

The company reported a consolidated net profit of Rs 93.33 crore in Q4 FY21 as against a net loss of Rs 104.48 crore in Q4 FY20. Net sales during the quarter rose 137.80% YoY to Rs 1459.51 crore.

The scrip rose 0.24% to currently trade at Rs 41 on the BSE.

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