Tata Steel Ltd on Wednesday reported a whopping Rs 6,511-crore consolidated loss in quarter ended September 30, 2023 hurt by charges related to restructuring at its UK operations and lower sales and price realisations. It reported consolidated net profit of Rs 1,297 crore in the year-ago period.
The steelmaker said its consolidated revenue declined 7% to Rs 55,682 crore in Q2FY24 as against Rs 59,878 crore in Q2FY23. On Wednesday, the firm’s scrip closed trading 2% lower at Rs 116.15.
T V Narendran, Chief Executive Officer & Managing Director, said: Tata Steel India delivered steady performance, with crude steel production of around 5 million tons. Domestic deliveries were up 6% YoY, despite renewed volatility and seasonal factors du…
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