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SAIL Records Fifth Straight Quarterly Loss, Forecasts Increasing Steel Demand
09/09/2016 - India’s largest steelmaker lost US$81 million in the first quarter of its fiscal year, but is forecasting increasing demand and is advancing plans to boost capacity, reports the Bloomberg news service.
According to Bloomberg, the loss was the fifth consecutive quarterly loss for the state-run Steel Authority of India Ltd. However, executives said they expect that coming government investment in infrastructure will drive new demand for steel.
In the meantime, the company this year has spent 40 billion rupees on expanding its capacity, Bloomberg reported.
Bloomberg has the full story here.
In the meantime, the company this year has spent 40 billion rupees on expanding its capacity, Bloomberg reported.
Bloomberg has the full story here.
