Tata Sponge Iron sustains loss in Q2 2006

Mumbai, Oct 11: Tata Sponge Iron has posted a loss of Rs 74 lakh in Sept'06 quarter in contrast to a net profit of Rs 5.54 crore in the corresponding quarter last year.

Announcing the results, the company said the sales (net of excise) of the company grew to Rs 55.48 crore from Rs 52.19 crore in the quarter ended Sept 30, 2006.

Total income ( net of excise) of the company increased by 5 per cent to Rs 57.54 crore in the quarter ended Sept 30, 2006 as against Rs 54.87 crore in the corresponding quarter last year.

During the quarter companys production was lower than the plan as the kilns were under extended shutdown for inter-connection with power plant.

UNI