The company's total income, however, increased to Rs 423.03 crore in July-September quarter of 2018-19 fiscal as compared to Rs 318.39 crore in corresponding period of the previous year.
Monnet Ispat is among India's 12 biggest loan defaulters, which were pushed into bankruptcy last year, as part of the country's new bankruptcy law aimed at cutting close to $150 billion of accumulated soured loans.
HDFC | Yes Bank | Bharti Airtel | Axis Bank | National Fertilizers | Berger Paints | Suzlon Energy | Gail | Monnet Ispat | Cipla | Archid Ply | TD Power and Punjab National Bank are stocks, which are in news today.
Eleven others have not yet started work for setting up steel plants, steel and mines minister Prafulla Mallick told the Assembly.
The Cabinet Committee on Economic Affairs today did not take up the issue of 61 coal blocks allotted to private companies such as Tata Steel, JSPL and Hindalco, which have been unable to develop the mines within the stipulated timeframe.
Ajay Bhat, Group CFO of Monnet Ispat and Energy blames the low power sales for the dismal performance of the division. Hereon, the company plans to use the power captively for its steel plants, he added.
Monnet Ispat and Energy today said it is in talks to acquire a coking coal mine in Columbia which may cost it anything between USD 50-75 million (Rs 277-416 crore).
Sandeep Jajodia VC and MD, Monnet Ispat and Energy, in an interview with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, spoke about the recent happenings in his company and the road ahead.
In an interview with CNBC-TV18’s Udayan Mukherjee, Sandeep Jajodia, Executive VC and MD, Monnet Ispat and Energy, speaks about the results and gives his outlook going forward.