13 Dec 2019 | 7:28 PM

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COMPANYNEWS
Steel Authority posts Q2 net loss of Rs 342.84 cr
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Published on 11-15-2019
The company reported standalone net loss during the quarter stood at Rs 342.84 crore compared to net profit of Rs 553.69 crore in the previous year quarter. 


Net revenue of the company declined moderately by 15.50 per cent at Rs 14127.44 crore in July-September quarter of this fiscal as against Rs 16718.04 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 9.65 per cent to Rs 12967.72 crore from Rs 14353.00 crore in year ago period.


Other Income grew by 38.84 per cent at Rs 158.74 crore versus (Sep`18 Rs 114.33 crore).


Operating Profit slipped by 50.96 per cent to Rs 1159.72 crore as against Rs 2365.04 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 41.98 per cent in September quarter.


Interest grew by 21.95 per cent y-o-y to Rs 940.35 crore while Taxation decreased by 161.23 per cent at Rs -180.19 crore (Sep`18 Rs 294.28 crore).