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Tata Steel's Q4 net loss narrows 62% to Rs 1,168 crore

Company reports exceptional expenses of Rs 4,069 crore in the Jan-Mar quarter

Reuters 

tata, steel,

on Tuesday announced that its consolidated net loss in the January-March quarter narrowed 62 per cent on a year-on-year basis – from Rs 3,042 crore in the same quarter the previous year to Rs 1,168 crore. The result came as a surprise as there had been a consensus forecast of a Rs 9,070 crore net profit. 

The company’s total income during the quarter stood at Rs 35,457 crore, against Rs 27,195 crore in the year-ago period.

The company reported an expenditure on exceptional items, including non-cash pension curtailment charges, aggregated to Rs 4,069 crore in the January-March quarter of 2016-17. 

Accounting for exceptional items in consolidated financial statements includes accounting treatment from closure of defined benefit section of BSPS to future accruals in March 2017.

The company’s is well-positioned to serve the expected increase in demand in 2017-18 and beyond, said.

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Tata Steel's Q4 net loss narrows 62% to Rs 1,168 crore

Company reports exceptional expenses of Rs 4,069 crore in the Jan-Mar quarter

Company reports exceptional expenses of Rs 4,069 crore in the Jan-Mar quarter
on Tuesday announced that its consolidated net loss in the January-March quarter narrowed 62 per cent on a year-on-year basis – from Rs 3,042 crore in the same quarter the previous year to Rs 1,168 crore. The result came as a surprise as there had been a consensus forecast of a Rs 9,070 crore net profit. 

The company’s total income during the quarter stood at Rs 35,457 crore, against Rs 27,195 crore in the year-ago period.

The company reported an expenditure on exceptional items, including non-cash pension curtailment charges, aggregated to Rs 4,069 crore in the January-March quarter of 2016-17. 

Accounting for exceptional items in consolidated financial statements includes accounting treatment from closure of defined benefit section of BSPS to future accruals in March 2017.

The company’s is well-positioned to serve the expected increase in demand in 2017-18 and beyond, said.
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Business Standard
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Tata Steel's Q4 net loss narrows 62% to Rs 1,168 crore

Company reports exceptional expenses of Rs 4,069 crore in the Jan-Mar quarter

on Tuesday announced that its consolidated net loss in the January-March quarter narrowed 62 per cent on a year-on-year basis – from Rs 3,042 crore in the same quarter the previous year to Rs 1,168 crore. The result came as a surprise as there had been a consensus forecast of a Rs 9,070 crore net profit. 

The company’s total income during the quarter stood at Rs 35,457 crore, against Rs 27,195 crore in the year-ago period.

The company reported an expenditure on exceptional items, including non-cash pension curtailment charges, aggregated to Rs 4,069 crore in the January-March quarter of 2016-17. 

Accounting for exceptional items in consolidated financial statements includes accounting treatment from closure of defined benefit section of BSPS to future accruals in March 2017.

The company’s is well-positioned to serve the expected increase in demand in 2017-18 and beyond, said.

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Business Standard
177 22