Press Esc to close
Saturday 21 January 2017
News updated at 9:52 AM IST
Weather
Max: 28.9°C
Min : 15.3°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
American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

President Donald Trump walks with first lady Melania Trump after walking...

President Donald Trump walks with first lady Melania Trump after walking...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

Like us on Facebook

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