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March 3 (Reuters) - Mining equipment maker Joy Global Inc , which gets more than half of its revenue from coal miners, reported a 25 percent fall in quarterly net sales as customers continued to cut spending amid a slump in commodity prices.

The company reported a net loss of $40.2 million, or 41 cents per share, in the first quarter ended Jan. 29, compared with a profit of $30.5 million, or 31 cents per share, a year earlier.

On an adjusted basis, the company reported a loss of 23 cents per share. Net sales fell to $526.3 million from $703.9 million, a year earlier.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)