Tata Steel reports Q4 loss on one-off charges

Tata Steel incurred a net loss of Rs 3,042 crore in the same quarter a year ago.

Tata Steel Ltd reported a fourth-quarter net loss of Rs 1,168 crore ($182.4 million) on Tuesday after one-off items including non-cash pension curtailment charges.

Reuters photo

That compared with a net loss of Rs 3,042 crore in the same quarter a year ago.

Before exceptional items, consolidated net profit from continuing operations was Rs 3,352 crore for the three months to March 31, Tata Steel said in a statement, compared with a loss of Rs 453 crore a year earlier.

Consolidated revenue for the quarter rose about 30% from a year earlier to Rs 35,005 crore.