Kolkata: JSPL Ltd, the Naveen Jindal flagship has posted a consolidated net loss of Rs 499 crore in Q2FY18 over a net loss of Rs 747 crore in Q2FY17.The company’s turnover rose 22% to Rs 6,125 crore in the quarter under review against Rs 5,029 crore in Q2FY17. On a standalone basis, the company’s net loss narrowed to Rs 255 crore in Q2FY18 against a net loss of Rs 407 crore in Q2FY17. JSPL consolidated steel production went up 14% to 1.32 mt in Q2FY18 from 1.16 mt in Q2FY17 even as the company sold 1.27 mt of steel in Q2FY18, up 17% compared to 1.08 mt in Q2FY17. Ansari said apart from the opportunity from Railways tender, JSPL is looking forward to another watershed moment in coming quarters –the commission of the Basic Oxygen Furnace (BOF) at Angul. "The idea is to sweat out the assets in the Angul project to improve cash flows as soon as possible, he added.

Source: Economic Times November 09, 2017 14:03 UTC