Steel Authority of India posts 10th straight quarterly loss

Steel Authority of India Ltd posted a narrower second-quarter loss on Thursday, the tenth straight loss in a row.

Net loss came in at 5.39 billion rupees ($82.96 million) in the quarter ended Sept. 30, compared with a loss of 7.32 billion rupees in the year-ago period. http://bit.ly/2zI6nSP

Analysts on average had expected the state-run company to post a loss of 2.73 billion rupees, according to Thomson Reuters data.

Quarterly revenue from operations was up about 8 percent at 136.17 billion rupees, while total expenses rose 2.7 percent to 141.09 billion rupees.

($1 = 64.9700 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)