Steel Authority of India posts ninth straight quarterly loss

Steel Authority of India Ltd reported its ninth consecutive quarterly loss on Friday, hurt by higher expenses.

Net loss came in at 8.01 billion rupees ($124.80 million), in the first quarter ended June 30, compared with a loss of 5.36 billion rupees in the year-ago period. (http://bit.ly/2vLi1df)

Total expenses for the quarter surged 27 percent to 143.50 billion rupees.($1 = 64.1850 Indian rupees)

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