Steel Authority of India Ltd. recorded a loss of Rs 731.6 crore in the second quarter of the financial year 2017. The consensus of analyst estimates tracked by Bloomberg stood at Rs 756.3 crore.
The state-owned steel maker had registered a loss of Rs 1,108 crore in the same quarter of the previous financial year.
A one-time exceptional cost of Rs 164 crore towards the compensation of voluntary retirement scheme contributed to losses for the quarter.
Revenue in the quarter-ended September increased 21.5 percent to Rs 12,431.3 crore from Rs 10,229.9 crore last year. A Bloomberg poll of analysts had pegged revenue at Rs 10,500 crore.
Earnings before interest, taxes, depreciation and amortisation went up to Rs 114.3 crore from an operational loss of Rs 928.9 crore in the year before. The EBITDA margin stood at 0.89 percent from negative 8.99 percent year on year.
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