Tata Steel swings to loss of Rs 6528.51 cr in Q4 - NDTV

Reuters | Updated On: May 23, 2013 18:20 (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 Rs 6,529 crore, compared with a Rs 4,330 crore profit a year earlier. Net sales rose about 1 per cent to Rs 341180 crore. Analysts had expected profit of Rs 364 crore on sales of Rs 35,016 crore, according Thomson Reuters. 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 of weakness in Europe, where demand has fallen by almost a third since 2007. Copyright @ Thomson Reuters 2013 For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGVqU15GAj2jr2-IEoUAQuPGNJelQ&url=http://profit.ndtv.com/news/corporates/article-tata-steel-reports-loss-on-weak-demand-in-europe-322564

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