The Indian Metals Company posted a net loss of Rs 4.938 million for the quarter ended September 30 against a net income of Rs 5.6 billion a year earlier. According to the press service of the company, Tata Steel incurred the main losses in the UK.
Analysts polled on the eve of Bloomberg believed that Tata Steel will receive quarterly profit.
However, the revenues of the steel company in India rose 10.1 percent, while the revenue of Tata Steel Europe fell 13.7 percent YoY. Consolidated sales of the company for the quarter were 5.65 million tonnes.
Tata Steel reports third quarter net loss
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