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Uttam Galva Steel December quarter net loss widens to Rs 531 crore

Total income plunged to Rs 100.05 crore in the said period from Rs 680.48 crore in the year-ago quarter, according to the filing.

February 05, 2019 / 06:13 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

 
 
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Uttam Galva Steel on Tuesday reported widening of net loss to Rs 530.72 crore for December quarter 2018 due to increased finance costs and decline in income.

The company had posted a net loss of Rs 179.96 crore during October-December 2017, Uttam Galva Steels said in a BSE filing.

Total income plunged to Rs 100.05 crore in the said period from Rs 680.48 crore in the year-ago quarter, according to the filing.

The company's finance costs zoomed to Rs 291.93 crore in the period under review from Rs 121.31 crore in December quarter 2017.

According to the company's website, Uttam Galva Steels is one of the largest manufacturers of cold rolled steel and galvanized steel in western India.

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The company is into the business of procuring hot rolled steel and processing it into cold rolled and further into galvanized steel and colour coated coils.

Shares of Uttam Galva Steels ended 4.92 percent down at Rs 11.20 apiece on BSE.
PTI
first published: Feb 5, 2019 06:11 pm

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