Tata Steel posts consolidated June qtr loss

MUMBAI Thu Aug 27, 2009 3:32pm IST

Shadow of an official of Tata Steel Ltd., falls on the company logo while presenting the company's quarterly results in Mumbai in this May 17, 2007 file photo. REUTERS/Arko Datta/Files

Shadow of an official of Tata Steel Ltd., falls on the company logo while presenting the company's quarterly results in Mumbai in this May 17, 2007 file photo.

Credit: Reuters/Arko Datta/Files

Related Topics

MUMBAI (Reuters) - Tata Steel Ltd, the world's No.8 steelmaker by output, posted a consolidated June quarter loss as poor demand at its European unit Corus and lower steel prices weighed on earnings.

Tata Steel, which bought Corus, Europe's second-largest steelmaker, in 2007, said its consolidated April-June net loss was at 22.39 billion rupees ($458 million), compared with 39.15 billion rupees profit a year earlier.

Its consolidated April-June net loss after minority interest and share of profits of associates was 22.09 billion rupees compared with a profit of 39.01 billion rupees a year earlier.

Consolidated net sales fell to 231.81 billion rupees from 433.75 billion a year ago.

A Reuters poll of six analysts had estimated consolidated net profit of 660 million rupees on net sales of 230 billion rupees.

(For more news on Reuters Money click in.reuters.com/money)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage