Tata Steel shares decline nearly 4% after Q3 loss

Shares of Tata Steel on Tuesday declined nearly 4 per cent in the early trade after the firm reported a consolidated net loss of ₹2,501.95 crore for the third quarter. The scrip fell 3.83 per cent to ₹113.10 apiece in the morning trade on the BSE.

On the NSE, it plunged 3.66 per cent to ₹113.15 per share.

The financial result of the company came after market hou₹on Monday.

The 30-share BSE Sensex was trading 71.32 points or 0.12 per cent lower at 60,435.58 in the morning trade.

Tata Steel on Monday reported a consolidated net loss of ₹2,501.95 crore in the December 2022 quarter on account of higher expenses.

It had posted a net profit of ₹9,598.16 crore in the year-ago period, the company said in a regulatory filing.

Its total income on a consolidated basis fell to ₹57,354.16 crore in the October-December quarter from ₹60,842.72 crore earlier.

The company's expenses rose to ₹57,172.02 crore in the quarter under review from ₹48,666.02 crore in the year-ago period.

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