SAIL reports 10th straight quarterly loss

13 November 2017

Steel Authority of India Ltd posted a narrower second-quarter loss on Thursday, the tenth straight loss in a row.

Net loss came in at Rs539 crore ($82.96 million) in the quarter ended 30 September, compared with a loss of Rs732 crore in the year-ago period.

Analysts on average had expected the state-run company to post a loss of Rs273 crore, according to Thomson Reuters data.

Quarterly revenue from operations was up about 8% at Rs13,617 crore, while total expenses rose 2.7% to Rs14,109 crore.

Source: Livemint