Tata Steel reports loss in its fourth quarter on Europe weakness - Times of India

The author has posted comments on this articleReuters | May 23, 2013, 07.19PM IST NEW DELHI: Tata Steel Ltd, India's largest steelmaker by market value, swung to a loss in its fourth quarter, hit by weak demand in Europe, its top market and production region. The company's January-March net loss was 65.29 billion rupees ($1.2 billion), compared with a 43.3 billion rupee profit a year earlier. Net sales rose about 1 percent to 341.8 billion rupees. Analysts had expected profit of 3.64 billion rupees on sales of 350.16 billion rupees, according Thomson Reuters I/B/E/S. Earlier this month the company said it would write down goodwill and assets by $1.6 billion in the financial year that ended in March, mainly because pf weakness in Europe, where demand has fallen by almost a third since 2007. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGE6Nl3iPQIwBfyPnFJEUGHOJ5XrA&url=http://timesofindia.indiatimes.com/business/india-business/Tata-Steel-reports-loss-in-its-fourth-quarter-on-Europe-weakness/articleshow/20228273.cms

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