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BRIEF-India's Tata Steel March-qtr consol loss narrows
May 16, 2017 / 12:41 PM / 7 months ago

BRIEF-India's Tata Steel March-qtr consol loss narrows

May 16 (Reuters) - Tata Steel Ltd

* March quarter consol net loss 11.68 billion rupees

* Consensus forecast for march quarter consol net profit was 9.07 billion rupees

* March quarter consol total income 354.57 billion rupees

* Consol net loss in march quarter last year was 30.42 billion rupees as per Ind-AS; consol total income was INR 271.95 billion

* Says exceptional items, including non cash pension curtailment charges, aggregating to INR 40.69 billion in Q4FY17

* Accounting for exceptional items in consol financial statements includes accounting treatment from closure of defined benefit section of BSPS to future accruals in mar 2017

* Kalinganagar facility is well positioned to serve the expected increase in demand in FY‘18 and beyond

* Recommended dividend of 10 rupees per share Source text - (bit.ly/2qnks2g) Further company coverage:

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