Millennium Post

Tata Steel loses ‘364 crore in Q2

Tata Steel on Thursday reported consolidated loss of Rs 363.90 crore for the July-September quarter, as against net profit of Rs 212.40 crore in the same quarter of last fiscal.

Total income of the company, the world’s twelfth largest steel producer, however, was up at Rs 34,334.50 crore during the quarter, from Rs 33,133.90 crore in the year-ago period.

Tata Steel’s standalone net profit declined in the July- September quarter to Rs 1,350.81 crore, compared to Rs 1,495.22 crore in the year ago period.

Total income of the company increased to Rs 9,150.56 crore, from Rs 8,211.93 crore during July-September quarter of the last fiscal.

The company scrip closed at Rs 390.55, down 3.25 per cent on the BSE, over the previous closing.
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