Tata Steel slips into red, posts Rs 4,648 cr loss in Q1

Tata steelworks logo. Credit: Reuters

Domestic steel major Tata Steel on Thursday reported a consolidated net loss of Rs 4,648.13 crore for the quarter ended June, mainly on account of reduced income.

The company had posted a consolidated net profit of Rs 714.03 crore during the same period a year ago, Tata Steel said in a BSE filing.

Total income dropped to Rs 24,481.09 crore during the quarter under review, from Rs 36,198.21 crore earlier.

The company's expenses also reduced to Rs 27,892.09 crore from Rs 34,447.42 crore in the April-June period of the preceding fiscal.

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