Tata Steel Q3 loss before tax at Rs 236 cr over lower demand, weak prices

The firm's consolidated bottom line was a loss at Rs 1,228 crore, against a profit of Rs 1,753-crore profit reported in the same period last year

Tata Steel reported a consolidated loss before tax of Rs 236 crore in the December quarter, against a profit of Rs 3,140 crore in the same period a year ago, on the back of lower sales. Consolidated net sales in the period stood at Rs 34,774 crore, down 9 per cent from the same period a year ago, as lower steel demand and weak prices of the commodity hurt the top line.
 
“Economic conditions remained very challenging during the quarter, which impacted the overall business performance. Tata Steel Europe reported a loss of Rs 956 crore at Ebitda (earnings