The company said in a statement that net profit from continuing operations (excluding Long Steel UK) was Rs. Photo: BloombergMumbai: Tata Steel Ltd’s consolidated losses widened to Rs.3,183 crore in the June quarter compared Rs.317 crore a year ago as India’s largest steel maker had to account for the divestment of its Long Steel UK Ltd factory. A Bloomberg poll of brokerages projected a net profit of Rs.376.9 crore and consolidated net sales of Rs.28,468 crore. The company said in a statement that net profit from continuing operations (excluding Long Steel UK) was Rs.172 crore compared to Rs.22 crore a year ago. The earnings statement said that the company “continues to be in discussion with industry players to explore options for a strategic collaboration through a potential joint venture”.

Source: Mint September 12, 2016 11:14 UTC