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Tata Steel shares tank nearly 6 pc on Q4 numbers

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tata steelMumbai: Shares of Tata Steel today fell by nearly 6 per cent after the company reported a consolidated net loss of Rs 5,674.29 crore for the quarter ended March 31.

The stock plunged 5.56 per cent to Rs 341.25 on the BSE.

At the NSE, it was down 5.57 per cent to Rs 341.15.

The stock was the biggest loser among the blue-chips on both Sensex and Nifty.

Tata Steel yesterday reported a consolidated net loss of Rs 5,674.29 crore for the quarter ended March 31, mainly due to non-cash write downs and a “challenging” 2014-15 fiscal.

The domestic steel giant, counted among the top-10 steel companies globally, had posted a net profit of Rs 1,035.87 crore in the year-ago period, it had said in a BSE filing.

Total consolidated income declined by 21 per cent to Rs 33,666.18 crore in the last quarter of 2014-15 compared with Rs 42,428.05 crore in the same quarter of 2013-14.

For the 2014-15 fiscal, the firm posted a consolidated net loss of Rs 3,925.52 crore. It had reported a net profit of Rs 3,594.89 crore in 2013-14.

Consolidated total income declined to Rs 1,39,503.73 crore in 2014-15, from Rs 1,48,613.55 crore during 2013-14.

PTI

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