 "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.
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