 "Tata Steel slips into red; posts Rs 2,501 cr loss in Q3 on higher expenses")
Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses.
The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing.
Total income on a consolidated basis fell to Rs 57,354.16 crore in the October-December quarter from Rs 60,842.72 crore earlier. The company's expenses rose to Rs 57,172.02 crore in the quarter under review from Rs 48,666.02 crore in the year-ago period.
Tata Steel Group is among the top global steel companies with an annual capacity of 34 MT.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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