Tata Steel is trading lower by 2% at Rs 382, extending its Friday’s 3.2% fall, after reporting a net loss of Rs 364 crore for the quarter ended September 2012 against net profit of Rs 212 crore in year ago quarter due to lower realization. The Tata Group Company had posted net profit of Rs 598 crore in the April-June 2012 quarter.
“The company’s consolidated revenue grew 4.1% at Rs 34,133 crore in Q2 as against Rs 32,798 crore in Q2 of last fiscal,” Tata Steel said in a statement.
Operating profit margin declined by more than 200 bps at 7.54% from 9.85% during the recently concluded quarter.
The stock opened at Rs 386 and has seen a combined 1.12 million shares have already changed hands on the counter so far on both the exchanges.