AT A GLANCE: JSW reports Q1 loss on lower production and sales

A summary of the financial results for Indian steelmaker JSW Steel for the first quarter of its 2020/2021 financial year, ended June 30, 2020.

In brief 

Results impacted by lower steel prices and adverse product and market mix.  The company focused on the export markets due to subdued domestic demand, with export sales accounting for 53% of total sales volume.  Lower costs of iron ore and other operating expenses partially offset the drag on margins.  Cites "formidable challenges of disrupted supply chains, unparalleled drop in demand and activity levels in the domestic markets, uncertainty in seamless inbound and outbound logistics movement, and liquidity constraints."  JSW Steel USA Ohio Inc has temporarily idled the operations to undertake a furnace upgrade project. Standalone FY Q1 results Revenue 102.93 billion rupees ($1.38 billion), down from 152.77 billion rupees the previous quarter....


Carrie Bone

July 28, 2020

12:56 GMT