Tata Steel posts Q2 net loss at Rs 2,720 cr

Mumbai, Nov 26: India's steel bellwether Tata Steel on Thursday, Nov 26, reported a net loss of Rs 2,719.80 cr for the second quater ended Sep 30, 2009.

The company had a profit of Rs 4,703.64 crore in the corresponding quarter in 2008.

Addressing a press conference, the company said, "In Q2, costs were lower by Rs 600 crore compared to the previous quarter."

Total income of the company dipped by 42.63 per cent at Rs 25,269.82 crore in the reporting quarter as against Rs 44,050.07 crore.

OneIndia News