JSW Ispat Special Products Limited reported that its consolidated net loss expanded to Rs 96.87 crore in the third quarter of the fiscal year 2023 (October-December), compared to a net loss of Rs 28.24 crore in the same period a year ago.

The third-quarter net sales dropped by 25.2% year on year, reaching Rs 1,097.55 crore. The pre-tax loss was Rs 96.87 crore during the period, higher than a pre-tax loss of Rs 28.24 crore in the third quarter of the fiscal year 2022.

Monnet Ispat & Energy Limited was acquired jointly by a consortium of AION Investments Private Limited and JSW Steel Limited through the corporate insolvency resolution process (CIRP) in August 2018 and was renamed JSW Ispat Special Products Limited.