Tata Steel’s net loss rises
Tata Steel witnessed a 10 fold jump in its net loss to Rs 3,183 crore in quarter ended June 30.
“ Loss from discontinued operations of Rs 3,296 crore was recognized on account of divestment of Long Steel UK Limited. The sale was completed during the quarter,” Tata Steel said in a statement.
Its EBITDA ( earning before interest, tax, depreciation and amortisation) in the quarter stood at Rs 3,270 crore, due to operating performance across India, Europe and South East Asia.