Orissa Sponge Iron March qtr net loss at Rs 20 cr

Orissa Sponge Iron & Steel today reported a net loss of Rs 19.63 crore for the quarter ended March 2009, while it had a net profit of Rs 8.14 crore in the same quarter ended March 2008.     

Total income of the company declined to Rs 43.59 crore in the quarter ended March 2009 from Rs 67.32 crore in the same period previous year, Orissa Sponge Iron & Steel said in a filing to the Bombay Stock Exchange.     

For the year ended March 2009, the company's net loss widened to Rs 27.20 crore from Rs 3.73 crore in 2008.     

Shares of Orissa Sponge Iron & Steel were trading at Rs 352.10 on the BSE, down 1.22 per cent from its previous close.