Latest News | Tata Steel Shares Decline Nearly 4 Pc After Q3 Loss
Get latest articles and stories on Latest News at LatestLY. Shares of Tata Steel on Tuesday declined nearly 4 per cent in the early trade after the firm reported a consolidated net loss of Rs 2,501.95 crore for the third quarter.
New Delhi, Feb 7 (PTI) Shares of Tata Steel on Tuesday declined nearly 4 per cent in the early trade after the firm reported a consolidated net loss of Rs 2,501.95 crore for the third quarter.
The scrip fell 3.83 per cent to Rs 113.10 apiece in the morning trade on the BSE.
On the NSE, it plunged 3.66 per cent to Rs 113.15 per share.
The financial result of the company came after market hours on Monday.
Also Read | Adani Group Shares End Lower; Group Companies' Combined Mcap Dips by Rs 9.5 Lakh Crore.
The 30-share BSE Sensex was trading 71.32 points or 0.12 per cent lower at 60,435.58 in the morning trade.
Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the December 2022 quarter on account of higher expenses.
It had posted a net profit of Rs 9,598.16 crore in the year-ago period, the company said in a regulatory filing.
Its total income on a consolidated basis fell to Rs 57,354.16 crore in the October-December quarter from Rs 60,842.72 crore earlier.
The company's expenses rose to Rs 57,172.02 crore in the quarter under review from Rs 48,666.02 crore in the year-ago period.
(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)