Tata Steel reports Rs 4\,648 cr net loss in Q1 due to reduced income

Tata Steel reports Rs 4,648 cr net loss in Q1 due to reduced income

The company had posted a consolidated net profit of Rs 714.03 crore during the same period a year ago, Tata Steel said in a BSE filing

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Press Trust of India  |  New Delhi 

tata steel
Total income dropped to Rs 24,481.09 crore during the quarter under review, from Rs 36,198.21 crore earlier | Photo: Reuters

Domestic steel major on Thursday reported a consolidated net loss of Rs 4,648.13 crore for the quarter ended June, mainly on account of reduced income.

The company had posted a consolidated net profit of Rs 714.03 crore during the same period a year ago, said in a BSE filing.

Total income dropped to Rs 24,481.09 crore during the quarter under review, from Rs 36,198.21 crore earlier.

The company's expenses also reduced to Rs 27,892.09 crore from Rs 34,447.42 crore in the April-June period of the preceding fiscal.

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First Published: Thu, August 13 2020. 21:05 IST