Latest News | Tata Steel Shares Fall 2 Pc After Sep Quarter Earnings

New Delhi, Nov 2 (PTI) Shares of Tata Steel declined 2 per cent in morning trade on Thursday after the company reported a consolidated net loss of Rs 6,511.16 crore in the second quarter ended September 30.

The stock dipped 2 per cent to Rs 114.25 on the BSE.

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At the NSE, it fell 1.71 per cent to Rs 114.60.

The company had clocked Rs 1,297.06 crore net profit in the year-ago period, it said in a regulatory filing on Wednesday.

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The firm's total income declined to Rs 55,910.16 crore in the JUly-September quarter, from Rs 60,206.78 crore in the year-ago quarter.

Its expenses stood at Rs 55,853.35 crore in the quarter under review, as against Rs 57,684.09 crore a year ago.

In a separate statement, Tata Steel said its crude steel production fell to 7.31 Million Tonne (MT), from 7.56 MT in the year-ago period. Deliveries also trimmed to 7.07 MT from 7.23 MT.

The company's net debt stood at Rs 77,032 crore, the statement said.

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