Press Esc to close
Tuesday 21 October 2014
News updated at 11:12 PM IST
Weather
Max: 25.4°C
Min : 20.2°C
In Bangalore
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
A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

A huge rangoli in front of Swaminarayan Temple...

A huge rangoli in front of Swaminarayan Temple...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

TRS activists set affire chairs at the TDP office in Nalgonda...

TRS activists set affire chairs at the TDP office in Nalgonda...

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