Facor Steels Ltd. reported audited earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the company reported net sales of INR 236.821 million compared with INR 936.881 million for the same period last year. Loss from operations before other income, financial cost & exceptional items was INR 71.084 million compared with profit from operations before other income, financial cost & exceptional items of INR 4.808 million for the same period last year. Loss from ordinary activities before tax was INR 86.689 million compared with INR 10.481 million for the same period last year. Net loss for the period was INR 85.048 million or INR 0.41 basic and diluted per share compared with INR 8.865 million or INR 0.04 diluted per share for the same period last year.

For the year, the company reported net sales of INR 2,718.412 million compared with INR 3,377.878 million for the same period last year. Loss from operations before other income, financial cost & exceptional items was INR 201.808 million compared with INR 15.808 million for the same period last year. Loss from ordinary activities before tax was INR 286.646 million compared with INR 86.632 million for the same period last year. Net loss for the period was INR 250.085 million or INR 1.21 diluted per share compared with INR 88.860 million or INR 0.42 diluted per share for the same period last year.