Tata Steel's Q4 net loss narrows 62% to Rs 1,168 crore

Company reports exceptional expenses of Rs 4,069 crore in the Jan-Mar quarter

Tata Steel on Tuesday announced that its consolidated net loss in the January-March quarter narrowed 62 per cent on a year-on-year basis – from Rs 3,042 crore in the same quarter the previous year to Rs 1,168 crore. The result came as a surprise as there had been a consensus forecast of a Rs 9,070 crore net profit. 

The company’s total income during the quarter stood at Rs 35,457 crore, against Rs 27,195 crore in the year-ago period.

The company reported an expenditure on exceptional items, including non-cash pension curtailment charges, aggregated to Rs 4,069 crore in the January-March quarter