Latest News | Tata Steel Slips into Red; Posts Rs 2,501.95 Cr Loss in Q3

New Delhi, Feb 6 (PTI) Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses.

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The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing.

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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.

Tata Steel Group is among the top global steel companies with an annual capacity of 34 MT. PTI

(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)