wastage vs loss

wastage and loss both are nouns.

Word	Noun	Adjective	Verb	Adverb
wastage	Yes	No	No	No
loss	Yes	No	No	No

As nouns, loss is a hypernym of wastage; that is, loss is a word with a broader meaning than wastage:

wastage (noun)	loss (noun)
anything lost by wear or waste	the act of losing someone or something
the process of wasting	the disadvantage that results from losing something
	military personnel lost by death or capture
	the experience of losing a loved one
	euphemistic expressions for death
	the amount by which the cost of a business exceeds its revenue
	something that is lost
	gradual decline in amount or activity