Moneycontrol
Aug 11, 2017 07:14 PM IST | Source: PTI

SAIL Q1 net loss widens to Rs 801.38 crore

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.

SAIL Q1 net loss widens to Rs 801.38 crore

Domestic steel major SAIL today 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 percent 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 percent 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 percent over the previous close.
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