Tata Steel consolidated Q2 net loss at Rs 2707 crore

Tata Steel consolidated Q2 net loss at Rs 2,707 crore

Tata Steel consolidated Q2 net loss at Rs 2,707 crore 26 Nov 2009, 1504 hrs IST, REUTERS

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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 More Earnings News How India Inc fared in Q2 of FY10 Six remarkable unknown PSUs performance of its European unit Corus. 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%

Tata Steel Q2 cons net loss at Rs 2,707 cr

Published on Thu, Nov 26, 2009 at 14:31 | Updated at Thu, Nov 26, 2009 at 15:56 | Source : Moneycontrol.com

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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.

Also Read News and Notices about Tata Steel See interviews with Tata Steel Management See what other Experts & Brokerages are saying about Tata Steel See previous Results of Tata Steel RSS feed for news Click here

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%.

Also Read:

• Buy Tata Steel below Rs 500: Dhawan
• Tata Steel top loser on Nifty

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Src: Moneycontrol, Economictimes