Financial Daily from THE HINDU group of publications
Saturday, Feb 02, 2002
Financial Daily from THE HINDU group of publications Saturday, Feb 02, 2002 |
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Corporate Results
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Steel Essar Steel net loss at Rs 142.15 cr Our Bureau
MUMBAI, Feb. 1 ESSAR Steel has reported a net loss of Rs 142.15 crore during the third quarter of 2001-2002 against a net profit of Rs 15.08 crore in the year-ago period. The company has blamed it on falling prices and shrinking export market. Domestic sales increased by 13 per cent to 2.86 lakh tonnes (2.54 lakh tonnes). This has marginally offset the dip in export at 0.56 lakh tonnes (1.26 lakh tonnes). The fall in exports was due to trade barriers and depressed prices in international markets. Sales for the three months declined to Rs 468.05 crore from Rs 621.57 crore in the year-ago period.
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