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Jindal Steel & Power Second-Quarter Loss Narrows

The steelmaker reported a loss of Rs 4.48 billion ($69.00 million) for the quarter ended Sept. 30, compared with a loss of 7.46 billion rupees a year earlier

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Jindal Steel and Power Ltd reported a smaller-than-expected quarterly loss, helped by higher revenue from its iron and steel business.

The steelmaker reported a loss of 4.48 billion rupees ($69.00 million) for the quarter ended Sept. 30, compared with a loss of 7.46 billion rupees a year earlier, the company said on Thursday.

Analysts on average had expected the company to post a loss of 4.84 billion rupees, according to Thomson Reuters Eikon data.

Revenue from its iron and steel segment rose about 25 percent to 49.97 billion rupees.

(Reuters)


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