Home >Companies >Q3 FY19 Results >Uttam Galva Steels net loss widens to 531 crore in Q3
The company's finance costs zoomed to  ₹291.93 crore in the period
The company's finance costs zoomed to 291.93 crore in the period

Uttam Galva Steels net loss widens to 531 crore in Q3

  • 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 latest quarter

NEW DELHI : Uttam Galva Steels Tuesday reported widening of net loss to 530.72 crore for December quarter 2018 due to increased finance costs and decline in income.

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

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

The company's finance costs zoomed to 291.93 crore in the period under review from 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.

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 per cent down at 11.20 apiece on BSE.

This story has been published from a wire agency feed without modifications to the text.

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