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Tata Steel reports fourth-quarter loss on one-off charges

Reuters  |  MUMBAI 

By Promit MukherjeeMUMBAI (Reuters) - Tata Steel Ltd on Tuesday reported an unexpected fourth-quarter loss due to one-off exceptional items, including charges relating to a deal involving the pension scheme at its businesses in Britain.The fate of Tata's British businesses, including the country's largest steelworks at Port Talbot, has been in the air since Tata Steel said a year ago it planned to sell its British assets following heavy losses.Under a deal, announced on Tuesday, Tata will inject 550 million pounds into the British Steel Pension Scheme subject to formal approval by regulators. ...

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First Published: Tue, May 16 2017. 20:03 IST