Press Esc to close
Tuesday 23 September 2014
News updated at 5:44 PM IST
Weather
Max: 30.8°C
Min : 21.5°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
In this Sept. 11, 2013, file photo, Indian engineers work on the Mars orbiter spacecraft at the...

In this Sept. 11, 2013, file photo, Indian engineers work on the Mars orbiter spacecraft at the...

Japan's (L-R) Masahiro Yamada, Seiya Takano and Takeshi Terashima celebrate a point during their...

Japan's (L-R) Masahiro Yamada, Seiya Takano and Takeshi Terashima celebrate a point during their...

Star shuttler Saina Nehwal and National badminton coach Pullela Gopichand during the...

Star shuttler Saina Nehwal and National badminton coach Pullela Gopichand during the...

India's Abhinav Bindra concentrates to shoot at the Men's 10m Air Rifle qualification at the 17th...

India's Abhinav Bindra concentrates to shoot at the Men's 10m Air Rifle qualification at the 17th...

Japan's Sakiko Shimizu swims in her women's 400m individual medley heat at the 17th...

Japan's Sakiko Shimizu swims in her women's 400m individual medley heat at the 17th...

Japan's Takeshi Terashima (L) strikes the ball against India during their men's team...

Japan's Takeshi Terashima (L) strikes the ball against India during their men's team...

Siddaramaiah opens online portal along with facebook and twitter handles of CM's office...

Siddaramaiah opens online portal along with facebook and twitter handles of CM's office...

Iran's President Hassan Rouhani, center, prepares to give a speech...

Iran's President Hassan Rouhani, center, prepares to give a speech...

Turkish Kurdish protesters clash with Turkish security forces during a pro-Kurdish protest ...

Turkish Kurdish protesters clash with Turkish security forces during a pro-Kurdish protest ...

Students of Govt Womens College, Hunsurperform Parisara Samrakshane during Dasara Yuva Sambrama...

Students of Govt Womens College, Hunsurperform Parisara Samrakshane during Dasara Yuva Sambrama...

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