January 25, 2018 / 11:53 AM / 3 months ago

Jindal Steel posts smaller-than-expected December-quarter loss

REUTERS - Jindal Steel and Power Ltd (JNSP.NS) reported a smaller-than-expected quarterly loss, helped by higher revenue from the iron and steel business.

The steel producer reported a loss of 2.66 billion rupees ($41.86 million) for the third quarter ended Dec. 31, compared with a loss of 4.07 billion rupees a year earlier, the company said in a statement on Thursday. bit.ly/2DHJIHT

Analysts on average were expecting a loss of 3.53 billion rupees, according to Thomson Reuters Eikon.

Revenue from its iron and steel segment rose 14 percent to 56.51 billion rupees.

($1 = 63.5450 Indian rupees)

    Reporting by Vishal Sridhar and Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu

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