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Steel Authority of India posts ninth straight quarterly loss


REUTERS - Steel Authority of India Ltd reported its ninth consecutive quarterly loss on Friday, hurt by higher expenses.Net loss came in at 8.01 billion rupees ($124.80 million), in the first quarter ended June 30, compared with a loss of 5.36 billion rupees in the year-ago period. ( expenses for the quarter surged 27 percent to 143.50 billion rupees.($1 = 64.1850 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Sherry Jacob-Phillips)(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, August 11 2017. 17:49 IST