Tata Steel posts Rs 687cr loss in Dec quarter
Tata Steel ,
the world's No. 7 steelmaker, posted its first quarterly net loss in
more than two years, hit by higher raw material costs and weak prices in
Europe.
Tata Steel reported a net loss of Rs 687 crore for its fiscal third
quarter ended December, compared with a net profit of Rs 949 crore a
year earlier.
After minority interest and share of associates, it reported a net loss of Rs 603 crore.
Analysts, on average, had expected a net profit of Rs 34 crore, according to a...