Jai Balaji posts Rs 70-cr standalone net loss

Jai Balaji Industries Ltd reported a standalone net loss of Rs 70 crore for the quarter ended March 31. The company had reported a standalone net profit of Rs 32 crore in the previous quarter last fiscal. Jai Balaji is a Kolkata-headquartered steel, iron and allied products maker. During the period it had reported an over 12 per cent dip in operating income to Rs 590 crore. It had reported a net income of Rs 673 crore for the corresponding quarter last fiscal.