India's Tata Steel reports Q2 loss on UK restructuring charges – Reuters

BENGALURU, Nov 1 (Reuters) – Indian steelmaker Tata Steel (TISC.NS) reported a loss for the second quarter on Wednesday, hurt by charges related to restructuring at its UK operations and lower sales and price realisations.

The company’s consolidated net loss came in at 65.11 billion Indian rupees ($782.24 million) for the three months ended Sept. 30, compared to a profit of 12.97 billion rupees a year ago.

Its total revenue from operations fell 7% to 556.82 billion rupees.

Tata Steel, which has an annual crude steel capacity of 35 million tonnes per annum, said it took a charge of 63.58 billion rupees on a consolidated basis in relation to the restructuring in the UK business.

In September, the company struck a 1.25 billion pound deal with …

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