JSW Steel Q4 net loss at Rs 39.93 cr

JSW Steel, a JSW Group subsidiary, today said it has incurred a consolidated net loss of Rs 39.93crore for the fourth quarter ended March 31, on the back of inventory write-down and demand contraction in the US and the
UK.

The company had a net profit of Rs 356.79 crore for the same quarter ended March 2008, JSW Steel said in a filing to
the Bombay Stock Exchange.

Total income of the company declined to Rs 3,622.08 crore for the quarter under review, compared to Rs 4,291.37 crore for the same quarter last fiscal.

For the year ended March 2008, the company has posted a net profit of Rs 274.91 crore, down 83.23 per cent from Rs 1,640.04 crore for the same period last year.