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Tata Steel F Y09 net drops 60%

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Tata Steel F Y09 net drops 60%

India's Tata Steel Ltd, on Thursday missed forecasts with a 60 percent drop in consolidated net profit for the fiscal year ended March and said 2,045 jobs in Europe units were at risk. It said its Anglo-Dutch Corus Unit was starting consultations on job cuts due to the continued deterioration in market conditions and falling demand.

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