Now Reading: Tata Metal again in black, posts ₹522cr revenue in Q3 | India Enterprise Information
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Tata Metal again in black, posts ₹522cr revenue in Q3 | India Enterprise Information
Tata Metal again in black, posts ₹522cr revenue in Q3 | India Enterprise Information
NEW DELHI: Tata Metal on Wednesday posted a consolidated web revenue of Rs 522 crore within the Dec quarter as robust home demand offset weak spot in Europe. The corporate had posted a web loss of Rs 2,502 crore within the year-ago interval, the corporate stated in a regulatory submitting.
The corporate’s consolidated revenue dropped to Rs 55,540 crore from Rs 57,354 crore within the year-ago quarter, it stated. Tata Metal had reported a consolidated web lack of Rs 6,511 crore within the Sept quarter.
“The worldwide working setting has been advanced, with financial slowdown in China and geopolitics weighing on commodity costs on the whole,” Tata Metal CEO and MD T V Narendran stated.
“Throughout the quarter, China has exported 7-8 million tonnes of metal each month, highest since 2015, and this has adversely impacted world metal costs in addition to profitability. Regardless of this context, Tata Metal India has delivered higher margins,” Narendran stated.
The corporate’s consolidated revenue dropped to Rs 55,540 crore from Rs 57,354 crore within the year-ago quarter, it stated. Tata Metal had reported a consolidated web lack of Rs 6,511 crore within the Sept quarter.
“The worldwide working setting has been advanced, with financial slowdown in China and geopolitics weighing on commodity costs on the whole,” Tata Metal CEO and MD T V Narendran stated.
“Throughout the quarter, China has exported 7-8 million tonnes of metal each month, highest since 2015, and this has adversely impacted world metal costs in addition to profitability. Regardless of this context, Tata Metal India has delivered higher margins,” Narendran stated.
