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MUMBAI: Tata Steel Ltd, the world's No. 8 steelmaker by output, reported a consolidated quarterly net loss on Thursday, hurt by the weak Tata Steel, which bought No. 2 European steelmaker Corus in 2007, said its consolidated July-September net loss was Rs 2,707 crore ($584.7 million), after minority interest and share of profit of associates, compared with a profit of 47.72 billion rupees a year earlier. Consolidated net sales fell to Rs 25,270 crore from Rs 44,199 crore a year earlier. Last month, the firm said its Indian operations' net profit fell 49.5 percent. Shares in Tata Steel, valued at $10.7 billion, extended losses to 5.2 percent at Rs 533.10 after the results, while the main index was down 1.8 percent. The firm's shares have leapt 150 percent this year, better than a 77 percent jump in the main index. |
Tata Steel Q2 cons net loss at Rs 2,707cr, stk down 5%
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Tata Steel has announced its second quarter FY10 results. The company's Q2 numbers were below street expectations, its consolidated net loss at Rs 2,707 crore versus loss of Rs 2,208 crore, quarter-on-quarter, QoQ.
Its net sales were up 9% at Rs 25,269 crore versus Rs 23,180 crore, QoQ.
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Restructuring cost at Rs 911 crore versus Rs 219 crore, QoQ.
Its consolidated input cost at Rs 849 crore versus Rs 1,265 crore.
The company's operating profits was at Rs 246 crore versus loss of Rs 141 crore, QoQ
Q2 FY10 YoY
The company's net sales were down 43% at Rs 25,269 crore versus Rs 44,050 crore, year-on-year, YoY.
Its operating profit at Rs 246 crore versus Rs 8096 crore, YoY.
Its net loss of Rs 2707 crore versus profit of Rs 477 crore, YoY.
Its OPM 1% versus 18%.
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