Don’t miss the latest developments in business and finance.

Tata Steel reports Q4 loss on one-off charges

Image
Reuters MUMBAI
Last Updated : May 16 2017 | 6:43 PM IST

MUMBAI (Reuters) - Tata Steel Ltd reported a fourth-quarter net loss of 11.68 billion Indian rupees ($182.4 million) on Tuesday after one-off items including non-cash pension curtailment charges.

That compared with a net loss of 30.42 billion rupees in the same quarter a year ago.

Before exceptional items, consolidated net profit from continuing operations was 33.52 billion rupees for the three months to March 31, Tata Steel said in a statement, compared with a loss of 4.53 billion rupees a year earlier.

Consolidated revenue for the quarter rose about 30 percent from a year earlier to 350.05 billion rupees.

($1 = 64.0450 rupees)

(Reporting by Promit Mukherjee; editing by David Clarke)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: May 16 2017 | 6:27 PM IST

Next Story