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India's Tata Steel reports Q4 loss on one-off charges
May 16, 2017 / 12:59 PM / 6 months ago

India's Tata Steel reports Q4 loss on one-off charges

MUMBAI, May 16 (Reuters) - India’s Tata Steel Ltd reported a fourth-quarter net loss of 11.68 billion Indian rupees ($182.4 million) on Tuesday after one-off items including non-cash pension curtailment charges.

That compared with a net loss of 30.42 billion rupees in the same quarter a year ago.

Before exceptional items, consolidated net profit from continuing operations was 33.52 billion rupees for the three months to March 31, Tata Steel said in a statement, compared with a loss of 4.53 billion rupees a year earlier.

Consolidated revenue for the quarter rose about 30 percent from a year earlier to 350.05 billion rupees. ($1 = 64.0450 Indian rupees) (Reporting by Promit Mukherjee; editing by David Clarke)

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