Losses narrow at Jindal Steel and Power

Jindal Steel and Power Ltd, one of India`s biggest steelmakers, said its first-quarter loss narrowed from a year ago, helped by higher revenue from its iron and steel business.

It reported a loss of 3.87 billion rupees ($61 million) for the April-June quarter, compared with a loss of 10.82 billion rupees a year earlier. (http://bit.ly/2vB7C3W)

Analysts on average had expected the steelmaker to make a loss of 4.33 billion rupees in the first quarter of this financial year, according to Thomson Reuters data.

($1 = 63.6370 Indian rupees)

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