India’s JSW Ispat Limited has reported a net loss of INR 368 million ($5 million) during the second quarter (July-September) of the 2021-22 fiscal year, lower than the INR 620 million ($8 million) net loss in the corresponding quarter of the previous fiscal year, according to a regulatory filing of the company on Wednesday, October 20.
According to the filing, the total income of the company in the given quarter was recorded at INR 14.42 billion ($192 million), up from INR 9.6 billion ($127 million) in the corresponding quarter of the previous year.
In 2018, a consortium of Aion Investment Private Limited and JSW Steel Limited acquired ailing private steel producer Monnet Ispat Limited through the bankruptcy resolution process and renamed the company JSW Ispat Limited.