Uttam Galva Steels' net loss widened to Rs 580.58 crore in the quarter ended on September 30, 2018, mainly due to high finance cost and a sharp decline in revenue.
The company had posted a net loss of Rs 213.26 crore during July-September period in 2017, Uttam Galva Steels Ltd said in a BSE.
Total income plunged to Rs 111.29 crore in July-September 2018 from Rs 900.27 crore in the year-ago quarter, according to the filing.
Its finance costs too zoomed to Rs 339.65 crore in the quarter under review from Rs 174.41 crore in July-September 2017.
Uttam Galva Steels is one of the largest manufacturers of cold rolled steel and galvanized steel in western India.
Shares of the company closed 4.98 per cent down at Rs 8.58 apiece on BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app