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Tata Steel Posts 
6 Billion Q3 Net Loss
Thursday, 09 February 2012, 20:14 Hrs
Kolkata: India's biggest steel maker, Tata Steel, reported a consolidated net loss of 
6.03 billion for the quarter ended December 2011, against a net profit of 10 billion in the same period a year ago.
The loss was mainly due to soaring raw material costs and cut in demand in Europe following the debt crisis.
However, the Mumbai-based company, the world's number seven steel maker, registered a 15.23 percent jump in its consolidated net sales at329.64 billion during the Q3 of the current fiscal, from 286.06 billion during the same period last fiscal, according to a release here.
H.M. Nerurkar, the firm's Managing Director said, "Our Indian operations delivered steady performance during the last quarter, with flat product volumes increasing 3 percent year-on-year. Long product volumes dropped marginally due to planned shutdowns."
Source: IANS
6.03 billion for the quarter ended December 2011, against a net profit of 10 billion in the same period a year ago.The loss was mainly due to soaring raw material costs and cut in demand in Europe following the debt crisis.
However, the Mumbai-based company, the world's number seven steel maker, registered a 15.23 percent jump in its consolidated net sales at
329.64 billion during the Q3 of the current fiscal, from 286.06 billion during the same period last fiscal, according to a release here.H.M. Nerurkar, the firm's Managing Director said, "Our Indian operations delivered steady performance during the last quarter, with flat product volumes increasing 3 percent year-on-year. Long product volumes dropped marginally due to planned shutdowns."
Source: IANS
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