1. You Are At:
  2. Home
  3. Business News
  4. Tata Steel Q3 net loss widens to Rs 763 cr

Tata Steel Q3 net loss widens to Rs 763 cr

Mumbai, Feb 13: Tata Steel's consolidated net loss has widened to Rs 763.06 crore in the October-December quarter as compared to a net loss of Rs 602.67 crore, largely due to decline in sales.Consolidated net

PTI [ Updated: February 13, 2013 18:44 IST ]
tata steel q3 net loss widens to rs 763 cr
tata steel q3 net loss widens to rs 763 cr

Mumbai, Feb 13: Tata Steel's consolidated net loss has widened to Rs 763.06 crore in the October-December quarter as compared to a net loss of Rs 602.67 crore, largely due to decline in sales.




Consolidated net sales of the company went down by 3.47 per cent to Rs 31,821.50 crore during the quarter vis-a-vis Rs 32,964.15 crore of the Q3 of FY'12, it said in a filing to the BSE.

On a standalone basis, its net profit was down 26.28 per cent to Rs 1,046.39 crore in the quarter as compared to a net profit of Rs 1,421.26 crore of the third quarter of the previous fiscal.

The standalone net profit was down mainly due to 5.79 per cent increase in its interest burden, which stood at Rs 508.98 crore during the quarter.

Standalone net sales, however, went up 11.60 per cent to Rs 9,268.19 crore in the quarter vis-a-vis Rs 8,304.58 crore of the third quarter of the previous fiscal.

Shares of the company closed today at Rs 376.15 apiece on the BSE, down 2.18 per cent from the previous close.

Write a comment

The Accidental Prime Minster