SAIL Q1 net loss widens to Rs801.38 crore
New Delhi: Domestic steel major SAIL on Friday saw its standalone net loss widen to Rs801.38 crore for the June quarter owing to higher expenses. The steelmaker had clocked a net loss after tax of Rs535.52 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% to Rs13,072.77 crore in April-June this fiscal from Rs10,424.95 crore during the same quarter in 2016-17. Its total expenses rose by 27.03% to Rs14,349.89 crore in the quarter under review as against 11,296.16 crore in the year-ago period.
Shares of the company closed at Rs56.55 apiece on the BSE, down 3.99% over the previous close.