JSW Ispat Special Products is a firm that on Wednesday announced a decline of 82.4% in its consolidated net profit for the fiscal year’s fourth quarter. The company is involved in the manufacture and sale of sponge iron, steel, and ferroalloys, along with billets and pellets.
In the same time period last year, the steel manufacturer brought in a profit of Rs 3.3 crore. Ahead of the quarterly results report for the Q4FY23 fiscal year, the share price of JSW Ispat Special Products Ltd. dropped to Rs31.30 per share, a decrease of over 1% on the BSE.
When compared to the previous fiscal year, the consolidated total income from operations decreased by 2.3%, coming in at Rs 1,649 crore in FY23, down from Rs 1687.84 crore in FY22. It increased by 49.6% when taken sequentially.
The total amount of the company’s consolidated net loss for the December quarter was 96.87 crore rupees.
The total comprehensive income for the period that was attributable to the owners of the firm was 1.14 crore for the quarter that ended in March, which is a decrease from the 1.83 crores that was earned during the same time period the previous year.