Press Esc to close
Saturday 30 April 2016
News updated at 1:14 AM IST
Weather
Max: 36.7°C
Min : 24.5°C
In Bengaluru
Sunny day

Tata Steel slips into red, Rs 364 cr Q2 loss

Mumbai, Nov 9, 2012, DHNS:

Tata Steel on Friday reported a consolidated net loss of Rs 363.93 crore for the second quarter ended September 30, 2012 as against a net profit of Rs 212.43 crore for the same period last year.

During the quarter under review, the company’s consolidated net sales stood at Rs 33,867.32 crore as against Rs 32,507.45 crore in the comparable quarter last year, a rise of 4.18 percent.

Earnings before interest, tax, depreciation and ammortisation (EBITDA) stood at Rs 2,452.4 crore versus Rs 3,021 crore, while EBITDA margins on a consolidated basis was 7.2 per cent.

Briefing media, Tata Steel's managing director H M Nerurkar said, “The Indian operations continued their steady performance against a backdrop of lacklustre demand in the marketplace and increasing imports.”  Steel prices over the second quarter fell by 4-6 per cent because of falling international rates and lacklustre demand growth.

The company also explained that the loss during the quarter was on account of lower steel prices in India as well as higher raw material costs, which went up to Rs 2,537 crore in Q2 this fiscal as against Rs 1,889.04 crore in Q2 last fiscal due to higher coal prices.

On a standalone basis, Tata Steel India’s net sales grew to Rs 9,034.20 crore for the second quarter versus Rs 8,142.19 crore, corresponding quarter last year. Its standalone net profit fell to Rs 1,350.81 crore as against Rs 1,495.22 crore.

Tata Steel's Group CFO Koushik Chatterjee said, “We will be commissioning the coke oven battery in the current quarter and the cost impact will be in our favour from the fourth quarter.”


Go to Top

Photo Gallery
Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Protesters throw stones on security personnel during clashes in Srinagar...

Protesters throw stones on security personnel during clashes in Srinagar...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...