New Delhi, Jul 14 (PTI) Tata Steel Long Products Limited (TSLP) on Thursday posted a net loss of Rs 331.09 crore in the June quarter, mainly on account of higher expenses.

The company had a profit of Rs 331.60 in the year-ago period.

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Its total income, however, rose to Rs 2,154.78 crore from Rs 1,726.82 crore in the quarter ended June 2021.

The company saw its expenses rise to Rs 2,489.58 crore from Rs 1,282.59 crore in the same period a year ago.

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A subsidiary of Tata Steel, TSLP is one of India's largest integrated special steel and merchant direct reduced iron (sponge iron) players.

Through TSLP, Tata Steel recently completed the acquisition of Odisha-based one Million Tonne Per Annum (MTPA) steel mill NINL for a consideration amount of Rs 12,000 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)