Tata Steel Q1 net loss at Rs 2,238 cr

Tata Steel today reported a consolidated net loss of Rs 2,238.53 crore for the first quarter ended June 30, 2009.

The company had a net profit of Rs 3,914.62 crore in the same quarter in the previous fiscal, Tata Steel said in a filing to the Bombay Stock Exchange.

Total income declined to Rs 23,292.31 crore for the quarter ended June, against Rs 43,496.17 crore in the same period in the corresponding fiscal.

The company has posted a consolidated net loss (after minority interest and share of profit of associated) of Rs 2,208.68 crore for the quarter under review, however it had a net profit (after minority interest and share of profit of associated) of Rs 3,900.90 crore in the same period last year.

 

Shares of Tata Steel were trading at Rs 438.90 on the BSE, down 4.60 per cent from the previous close.