India Steel Works Limited has reported a wider net loss of INR 75.5 million ($911,667) for the third quarter (October-December) of the fiscal year 2022-23, higher than INR 41.30 million ($498,600) in the corresponding quarter of the previous fiscal year, a company regulatory filing said on Wednesday, February 15.
The company reported net sales of INR 6 million ($72,446) during the quarter, registering a decline of 93 percent, according to the filing.
India Steel Works operates a backward integrated steel mill near Mumbai producing stainless steel, carbon alloy steel, hot rolled coil (HRC) and steel wires.