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Home STOCKS Tata Steel Q4 outcomes: Steelmaker reports internet loss of Rs 1,096 crore,...

Tata Steel Q4 outcomes: Steelmaker reports internet loss of Rs 1,096 crore, sales decline 20%

Tata Metal on Monday posted a consolidated web loss of Rs 1,095.68 crore for the quarter ended March 31. The corporation had described a net profit of Rs 2,430.92 crore in the corresponding quarter very last yr.
Consolidated revenue of the firm declined 20.40 for each cent YoY to Rs 33,769.95 crore in Q4FY20 above Rs 42,423.86 crore in Q4FY19.
The board recommended a dividend of Rs 10 per everyday share of Rs 10 each and every and Rs 2.504 for each partly compensated standard share for the monetary calendar year ended March 31.
Operations at the group’s metal making amenities in India have been scaled down from the stop 7 days of March 2020 due to the lockdown, Tata Metal explained. It further extra that the group’s overseas operations in Europe, South East Asia and Canada have also been scaled down more than various durations and are currently being operated as for each the local tips, where ever permitted.
“The lockdown has adversely impacted the group’s sales volume, blend and realisations in the many geographies it operates. During the present-day quarter, such affect was confined only to the later aspect of March 2020. Even so, with the continuance of lockdown through the to start with quarter of the fiscal calendar year 2021, the group’s operation remained adversely impacted,” Tata Steel said.
The organization posted an extraordinary loss of Rs 3,405.85 crore in the course of the quarter beneath assessment versus net profit of Rs 11.49 crore in the exact interval past 12 months.
The company declared its results post market hrs. Earlier, the scrip shut .82 for each cent down at Rs 321.25, whilst the benchmark BSE Sensex settled just about 210 factors or .60 for each cent lessen at 34,961.


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