Tata Metaliks Q2 net loss narrows to Rs 10 lakh

Pig iron producer Tata Metaliks today said its consolidated net loss has come down to Rs 10 lakh in the September quarter of this fiscal from Rs 35 lakh in the year-ago period.
The company's consolidated net income, however, was lower at Rs 327.90 crore in the July-September quarter from Rs 350.76 crore in the same quarter of 2014-15, it said in a BSE filing.
Its total expenses were lower at Rs 289.07 crore from Rs 305.51 crore during the quarter under review, it added.
The firm said the scheme of merger of Tata Metaliks with its parent firm Tata Steel has been approved by the Bombay High Court on August 21, 2015 and the same is awaited by the Calcutta High Court.

The firm has its manufacturing plant at Kharagpur in West Bengal with an annual production capacity of 345,000 tonnes of pig iron.
Shares of the company today rose by 1.07 per cent to close at Rs 108.40 apiece at the BSE.