Jindal Stainless narrows loss in Q1

Jindal Stainless narrowed down its first quarter net loss to Rs 110.60 crore, compared to the same quarter a year ago, buoyed by higher income.

The company, the largest stainless steel manufacturer in the country, had reported Rs 475 crore net loss in April-June quarter a year ago, it said in a statement.

Total income of the company during the reporting quarter rose to Rs 3,237.75 crore from Rs 2,830.21 crore a year ago.

However, expenditure also went up during the quarter to Rs 3,021.92 crore from Rs 2,771.20 crore a year earlier.

Finance cost also grew to Rs 343.74 crore from Rs 288.72 crore.