Tata Steel back in black in Q3

February 11, 2014 11:38 pm | Updated May 18, 2016 07:31 am IST - MUMBAI:

Despite continuing challenging market conditions, Tata Steel on Tuesday announced a consolidated net profit of Rs. 503 crore for the third quarter ended December 2013, against a loss of Rs. 763 crore in the corresponding period of the previous year. The consolidated turnover stood at Rs. 36,736 crore (Rs .36,645 crore) and the operating profit at Rs. 3,921 crore (Rs. 2,252 crore).

In a statement, Koushik Chatterjee, Group Executive Director (Finance & Corporate) said, “the market conditions continue to be challenging in all geographies with contracted spreads between steel realisations and raw material prices. We have been able to stabilise the gross debt levels excluding the translation impact even as we continue to execute the planned capex especially on the greenfield project in Odisha which remains a key priority for the company.”

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.