Steel Authority of India posts ninth straight quarterly loss

New Delhi: Steel Authority of India Ltd reported its ninth consecutive quarterly loss on Friday, hurt by higher expenses.

Net loss came in at 8.01 billion rupees ($124.80 million), in the first quarter ended June 30, compared with a loss of 5.36 billion rupees in the year-ago period. 

Total expenses for the quarter surged 27 percent to 143.50 billion rupees.