Sunflag Iron and Steel Company Ltd. reported a drop in net sales on a year-on-year (YoY) basis during June 2020 quarter (Q2) by 59.17pc at Rs198.50cr (1.9bn) as compared to Rs486.11cr (4.8bn) in June 2019.
According to data, the company suffered a quarterly consolidated net loss of over 500pc at Rs15.75cr (157.5mn) as compared to a net profit of Rs3.92cr (39.2mn) in the same period year prior.
Sunflag Iron and Steel plant is located near Nagpur and produces 500,000mt per annum of high-qaulity special steel.
($1 = Rs74.92)