Press Esc to close

Tata Steel slips into red, Rs 364 cr Q2 loss

Mumbai, Nov 9, 2012, DHNS: 22:12 IST
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

More from this section
Most trending stories
Photo Gallery
An electricity board worker installs a new line for the upcoming Magh Mela festival at Sangam...

An electricity board worker installs a new line for the upcoming Magh Mela festival at Sangam...

An Indian paramilitary soldier marches past the MI-8 helicopter during its phasing out ceremony...

An Indian paramilitary soldier marches past the MI-8 helicopter during its phasing out ceremony...

Transgenders society members during a protest against 'TG Bill 2016' at Parliament Street...

Transgenders society members during a protest against 'TG Bill 2016' at Parliament Street...

Protestors burn posters of U.S. President Donald Trump during a protest, organised by...

Protestors burn posters of U.S. President Donald Trump during a protest, organised by...

A man walks past the Coronation Pillar at a park in north-west Delhi that marks the iconic...

A man walks past the Coronation Pillar at a park in north-west Delhi that marks the iconic...

A laptop bag made out of cement by Indian artist Somesh Singh exhibited at the Craft Beton...

A laptop bag made out of cement by Indian artist Somesh Singh exhibited at the Craft Beton...

A view of snow covered mountains of Kashmir valley which caused due to recent heavy snowfall...

A view of snow covered mountains of Kashmir valley which caused due to recent heavy snowfall...

Snow covered mountains of Pir Panjal range seen in the backdrop of Chamera Lake in Chamba on Sunday.

Snow covered mountains of Pir Panjal range seen in the backdrop of Chamera Lake in Chamba on Sunday.

A view of the Gomateshwara statue of Shravanabelagola in Karnataka. A scaffolding and visitors...

A view of the Gomateshwara statue of Shravanabelagola in Karnataka. A scaffolding and visitors...

A view of the illuminated Takhat Shri Harmandir Saheb Gurdwara to mark of 350th Prakash Parv...

A view of the illuminated Takhat Shri Harmandir Saheb Gurdwara to mark of 350th Prakash Parv...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.