Press Esc to close
Friday 31 July 2015
News updated at 10:07 AM IST
Weather
Max: 21°C
Min : 33°C
In Bengaluru
Partially cloudy

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
A municipal worker fumigates submerged huts situated in the flooded banks of river Sabarmati in ...

A municipal worker fumigates submerged huts situated in the flooded banks of river Sabarmati in ...

A huge whale was found dead on the shores of the beach near Sister Fatima Church at Tannerbhavi ...

A huge whale was found dead on the shores of the beach near Sister Fatima Church at Tannerbhavi ...

School children and their teachers pay tribute to former President APJ Abdul Kalam in Moradabad ...

School children and their teachers pay tribute to former President APJ Abdul Kalam in Moradabad ...

The winning team of the UBA India Pro Basketball League 2015, Chennai Slam with the trophy after ...

The winning team of the UBA India Pro Basketball League 2015, Chennai Slam with the trophy after ...

An Indian boy dressed as Hindu god Shiva to attract alms from devotees chats with tourists as ...

An Indian boy dressed as Hindu god Shiva to attract alms from devotees chats with tourists as ...

People offer flower petals on the grave of former President A.P.J. Abdul Kalam during his funeral ..

People offer flower petals on the grave of former President A.P.J. Abdul Kalam during his funeral ..

1993 Mumbai blast convict Yakub Memon's brothers Suleiman and Usman sitting inside the car

1993 Mumbai blast convict Yakub Memon's brothers Suleiman and Usman sitting inside the car

People worship a bull during Bendur festival in Sangli on Wednesday...

People worship a bull during Bendur festival in Sangli on Wednesday...

Fire brigade and NDRF personnel rescue a person stuck in the three floor Matru-Chhaya...

Fire brigade and NDRF personnel rescue a person stuck in the three floor Matru-Chhaya...

Students of Patna Women's College wear tiger masks to create awareness to save tigers...

Students of Patna Women's College wear tiger masks to create awareness to save tigers...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523