Published on 3/08/2020 2:02:29 PM | Source: Dion Global Solutions Ltd

Tata Steel Long Prod posts Q1 net loss of Rs 131.32 cr

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The company reported standalone net loss during the quarter stood at Rs 131.32 crore as compared to net loss of Rs 86.00 crore in the previous year quarter. Net revenue of the company declined moderately by 7.31 per cent at Rs 653.10 crore in April-June quarter of this fiscal as against Rs 704.59 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 5.11 per cent to Rs 645.70 crore from Rs 680.46 crore in year ago period. Other Income dipped by 72.41 per cent at Rs 11.36 crore versus (Jun'19 Rs 41.18 crore).

Operating Profit slipped by 69.33 per cent to Rs 7.40 crore as against Rs 24.13 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 66.96 per cent in June quarter. Interest grew by 1.95 per cent y-o-y to Rs 69.00 crore, while Taxation increased by 108.43 per cent at Rs 1.26 crore (Jun'19 Rs -14.94 crore).