We worked very hard, it's the best proposal: Tata Steel CEO T V Narendran

'Unions are obviously reflecting the sentiments of their members. One way to look at it is there are many jobs which are saved, but for the people who may be losing jobs, it's an emotional issue'

Impairment and restructuring costs related to an impending transition in the UK to electric arc furnace-based steelmaking operations dragged Tata Steel into a net loss of Rs 6,196 crore in Q2FY24. In a video interview, Tata Steel Managing Director and Chief Executive Officer T V Narendran told Ishita Ayan Dutt that its restructuring proposal for the UK was aimed at creating a sustainable business. Edited excerpts:

The impairment charge in standalone financial statements is Rs 12,560 crore and Rs 2,746 crore in the consolidated one. Can you explain the difference? And does this complete the provisioning for the UK?
 

The answer