SAIL Q1 net loss widens to Rs 801.38 cr on higher expenses
SAIL had clocked a net loss after tax of Rs 535.52 crore in the corresponding quarter of 2016-17
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A man stands next to an advertisement of Steel Authority of India Ltd. (SAIL) at a street in New Delhi, India. Photo: Reuters
Domestic steel major SAIL on Friday saw its standalone net loss widen to Rs 801.38 crore for the June quarter owing to higher expenses.
The steelmaker had clocked a net loss after tax of Rs 535.52 crore in the corresponding quarter of 2016-17, the company said in a BSE filing.
Total standalone income of the Maharatna firm rose by 25.39 per cent to Rs 13,072.77 crore in April-June this fiscal from Rs 10,424.95 crore during the same quarter in 2016-17.
Its total expenses rose by 27.03 per cent to Rs 14,349.89 crore in the quarter under review as against 11,296.16 crore in the year-ago period.
Shares of the company closed at Rs 56.55 apiece on the BSE, down 3.99 per cent over the previous close.
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First Published: Aug 11 2017 | 6:19 PM IST