Tata Steel shares decline nearly 4% after Q3 loss
Feb 7, 2023, 12:40 IST
Shares of Tata Steel on Tuesday declined nearly 4 per cent in the early trade after the firm reported a consolidated net loss of ₹2,501.95 crore for the third quarter. The scrip fell 3.83 per cent to ₹113.10 apiece in the morning trade on the BSE.
On the NSE, it plunged 3.66 per cent to ₹113.15 per share.
The financial result of the company came after market hou₹on Monday.
The 30-share BSE Sensex was trading 71.32 points or 0.12 per cent lower at 60,435.58 in the morning trade.
Tata Steel on Monday reported a consolidated net loss of ₹2,501.95 crore in the December 2022 quarter on account of higher expenses.
It had posted a net profit of ₹9,598.16 crore in the year-ago period, the company said in a regulatory filing.
Its total income on a consolidated basis fell to ₹57,354.16 crore in the October-December quarter from ₹60,842.72 crore earlier.
The company's expenses rose to ₹57,172.02 crore in the quarter under review from ₹48,666.02 crore in the year-ago period.
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On the NSE, it plunged 3.66 per cent to ₹113.15 per share.
The financial result of the company came after market hou₹on Monday.
The 30-share BSE Sensex was trading 71.32 points or 0.12 per cent lower at 60,435.58 in the morning trade.
Tata Steel on Monday reported a consolidated net loss of ₹2,501.95 crore in the December 2022 quarter on account of higher expenses.
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Its total income on a consolidated basis fell to ₹57,354.16 crore in the October-December quarter from ₹60,842.72 crore earlier.
The company's expenses rose to ₹57,172.02 crore in the quarter under review from ₹48,666.02 crore in the year-ago period.
SEE ALSO:
RCap resolution: NCLAT issues notices to Torrent Investments, othe₹on the lender's plea
PM Narendra Modi receives Lionel Messi jersey as gift