We expect losses in the UK to be lower: Tata Steel CEO & MD T V Narendran

UK, is more of a structural problem and that's why we're doing the restructuring. But we expect the losses to be lower going forward as we start shutting down the blast furnaces

Last week, Tata Steel announced its decision to transition from legacy blast furnaces at Port Talbot in Wales, UK, to a greener electric arc furnace (EAF) technology in a phased manner to reverse a decade of losses. In an interview, Tata Steel Managing Director and Chief Executive Officer T V NARENDRAN tells Ishita Ayan Dutt why it was the “least bad option”. Edited excerpts:

On a standalone basis, Tata Steel recorded a net profit of Rs 4,653 crore, while consolidated at Rs 513 crore was dragged by European operations. What is the outlook for Europe?
 

We’ve had poor numbers both