There has been nil income for Orissa Sponge Ltd in all the three quarters in 2015-16.
However, the reported net loss in the quarter ending December 2015 was Rs 14.93 crore compared to a net loss of Rs 10.93 crore in the same period of the previous year. The reported loss in the September quarter was Rs 10.76 crore.
The expenses are being incurred under the heads of employee benefit, deferred tax, depreciation, power fuel and finance cost.
The total net loss for the first nine months from April to December, 2015 stood at Rs 40.16 crore as against a loss of Rs 33.09 core is the same period of the previous year.
Not only Orissa Sponge, most of the sponge iron companies are now suffering from lack of demand.