Electrosteel Steels posts Q4 net loss at Rs 293 cr

Electrosteel Steels Ltd has reported a net loss of Rs 293.33 crore during the quarter ended March 31, 2017.
The company had posted a net profit Rs 265.14 crore in the year-ago quarter, it said in a BSE filing.
Its income from operations also fell to Rs 742.83 crore from Rs 945.20 crore during the corresponding period of previous fiscal.
The company's total expenses during the quarter increased to Rs 1,095.84 crore from Rs 966.30 crore a year ago, it said.
During 2016-17, the company saw its net loss widening to Rs 1,463.48 crore from Rs 367.99 crore in the preceding fiscal.

The company's product range includes pig iron, billets, TMT bars, wire rods and ductile iron pipes.
It is also setting up a 2.51 million tonne per annum (MTPA) greenfield integrated steel plant near village Siyaljori in Bokaro, Jharkhand.
Shares of the company ended 0.18 per cent up at Rs 5.58 on BSE.