Uttam Galva Steels net loss soars to Rs 59 cr in Dec quarter

AgenciesUpdated: Tuesday, January 25, 2022, 09:23 PM IST
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Uttam Galva Steels stated that the total consolidated income increased to Rs 220.94 crore, as against Rs 189.45 crore in the corresponding quarter previous fiscal. |

Uttam Galva Steels Limited posted a consolidated net loss of Rs 59.64 crore during the third quarter ended on December 31, 2021.

The company stated that the total consolidated income increased to Rs 220.94 crore, as against Rs 189.45 crore in the corresponding quarter previous fiscal.

The company;s expenses during the quarter were at Rs 280.58 crore, higher against Rs 222.06 crore a year ago.

The company, which is undergoing NCLT proceedings, is one of the largest manufacturers of cold-rolled steel and galvanised steel in the country's western region.

The Mumbai bench of National Company Law Tribunal (NCLT) admitted the petition of State Bank of India (SBI) for initiating Corporate Insolvency Resolution Process (CIRP) vide its order dated October 1, 2020, according to the filing.

(With inputs from PTI)

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