New Delhi: Tata Steel registered a consolidated net loss of Rs 1,228.53 crore for the third quarter of the current fiscal. It has clocked a net profit of Rs 1,753.07 crore for the corresponding quarter of the previous fiscal.
The losses in the latest quarter were because of impairment provisions for its European operations, apart fro lower sales.
Tata Steel’s gross sales dropped to Rs 34,774 crore in the third quarter of the current fiscal as compared to Rs 38,086 crore in the same quarter of the previous fiscal, it said in a regulatory filing.
Its total expenses stood at Rs 35,849 crore as against Rs 35,930 crore in the previous fiscal.