JSW Steel: In July We Are Working At Full Capacity, Says Seshagiri Rao
JSW Steel Ltd. saw domestic demand recovery in the quarter gone at just about 50%, but in July the steel maker’s capacities are running full, said Seshagiri Rao, the company’s joint managing director and chief financial officer.
JSW Steel reported a net loss of Rs 561 crore in the April-June period—the first since the second quarter of 2013-14—against a net profit of Rs 1,028 crore a year ago. Its revenue declined 41% to Rs 11,782 crore.
But that didn’t deter analysts from maintaining their bullish rating on the stock. That may be because of the company’s improving operational metrics and expansion plans.
The worst is over, said Rao as detailed the Q1 performance and the outlook for the July - September quarter.