National General Industries Reports ₹25.23 Crore Loss in Q1 as Steel Segment Struggles
National General Industries Limited (NGIL) reported a net loss of ₹25.23 crores in Q1, compared to profits in the previous quarter and the same quarter last year. Revenue declined by 37.5% quarter-on-quarter to ₹196.86 crores. The steel segment, NGIL's core business, posted a loss of ₹26.64 crores. Total expenses were reduced to ₹224.11 crores, with the cost of materials consumed dropping to ₹98.67 crores. The Board of Directors approved these results on August 11.