 Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage A labourer works at a Tata steel iron godown in Chandigarh November 9, 2012. Credit: Reuters/Ajay Verma/Files NEW DELHI | NEW DELHI (Reuters) - Tata Steel Ltd(TISC.NS), 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, 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. (Reporting by Krishna N Das; Editing by Daniel Magnowski and David Goodman)
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Thursday, 23 May 2013
Tata Steel reports loss on Europe weakness - Reuters India
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