Tata Steel’s net loss rises
Tata Steel witnessed a 10 fold jump in its net loss to Rs 3,183 crore in quarter ended June 30. “ Loss from discontinued operations of Rs 3,296 crore was recognized on account of divestment of Long Steel UK Limited. The sale was completed during the quarter,” Tata Steel said in a statement. Its EBITDA ( earning before interest, tax, depreciation and amortisation) in the quarter stood at Rs 3,270 crore, due to operating performance across India, Europe and South East Asia.
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