Essar Steel reduces third quarter loss

Essar Steel reduces third quarter loss

Major Indian steel producer Essar Steel announced that it posted a net loss of Rupees 21.74 crore during the third quarter of financial year that ended on December 31, 2003, after depreciation of Rupees 102.78 crore, down from a loss of Rupees 65.91 crore recorded during the same period of the previous fiscal year. Total income of the company increased to Rupees 1'027.56 crore during the subject quarter compared to the Rupees 841.53 crore posted during the corresponding quarter a year ago.