Industry

Tata Steel slips into red, posts ₹4,648 cr net loss in Q1

Representational image.

Representational image.   | Photo Credit: Arunangsu Roy Chowdhury

Domestic steel major Tata Steel on Thursday reported a consolidated net loss of ₹4,648.13 crore for the quarter ended June, mainly on account of reduced income.

The company had posted a consolidated net profit of ₹714.03 crore during the same period a year ago, Tata Steel said in a BSE filing.

Total income dropped to ₹24,481.09 crore during the quarter under review, from ₹36,198.21 crore earlier.

The company’s expenses also reduced to ₹27,892.09 crore from ₹34,447.42 crore in the April-June period of the preceding fiscal.

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Printable version | Sep 23, 2020 5:28:49 AM | https://www.thehindu.com/business/Industry/tata-steel-slips-into-red-posts-4648-cr-net-loss-in-q1/article32347539.ece

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