Orissa Minerals June quarter net loss widens to Rs 21 cr

Orissa Minerals Development Company Ltd on Tuesday reported widening of standalone net loss to Rs 20.80 crore for the quarter ended June 30. The company had posted a net loss of Rs 5.71 crore in the year-ago period, Orissa Minerals Development Co Ltd said in a BSE filing.

The company's income declined during April-June quarter to Rs 6.33 crore, from Rs 14 crore in the year-ago period. The company's mining operations are under suspension due to non-availability or statutory clearances.

Mining Leases are in the process or renewal and accordingly, these financial results have been prepared on a "going concern basis", the company said.