Domestic steel major SAIL has suffered a consolidated net loss of Rs 1,226.47 crore for the June quarter of 2020, mainly on account of reduced income.

The company had posted a net profit of Rs 102.68 crore in the year-ago quarter, SAIL said in a BSE filing.

During the quarter under review, the company said its total income declined to Rs 9,346.21 crore from Rs 14,998.20 crore in the April-June period of the preceding fiscal.

Its total expenses stood at Rs 11,325.10 crore against Rs 14,893.07 crore a year ago.

The company said the pandemic outbreak and measures to contain it have caused significant disturbance and slowdown of economic activities.

Consequently, the company’s manufacturing operations had to be scaled down during the said quarter.

“Though the operations resumed in the later part of the quarter with limited availability of workforce and disrupted supply chain, the restrictions imposed adversely impacted the sales volume and realisation,” SAIL said.

SpiceJet loss

Budget carrier SpiceJet on Tuesday reported a first-quarter net loss of Rs 600.5 crore owing to the suspension of flight operations because of the coronavirus-induced lockdown. It had posted a net profit of Rs 262.8 crore a year ago.

The airline’s operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower against Rs 3,002.8 crore a year ago. Operating expenses during the June 2020 quarter were Rs 1,311.6 crore compared with Rs 2,886.7 crore in the year-ago period.