Tata Steel slips into red, logs Q4 consolidated pre-tax loss at Rs 1,499 cr

The company had a profit of Rs 4,252.50 crore in the corresponding period last year

Tata Steel reported a consolidated pre-tax loss of Rs 1,499.45 crore in the quarter ended March 31, 2020, against a profit before tax of Rs 4,252.50 crore in the corresponding period last year. This was on the back of weak revenue and a slew of exceptional items, which further dented earnings of the company.

In the final quarter of FY20, the company’s top line stood at Rs 32,866 crore, down 20 per cent from same period last year. This is because weak demand amid the slowing economic growth impacted domestic as well as overseas operations.

“While deliveries in India were marred by