Tata Steel Q2: Motilal Oswal Securities expects that Tata group entity to report 61.1 per cent YoY plunge in profit at Rs 596.90 crore on a 5.7 per cent YoY drop in sales at Rs 56,472.20 crore.
The exceptional loss includes an impairment charge of Rs 2,631 crore, which is related to Tata Steel UK, a step-down subsidiary. In addition, the company has also undertaken a charge towards restructuring and other provisions of Rs 3,612 crore.
Tata Steel reported a net loss of ₹6,196.24 crore in the September quarter of FY24. The Indian steelmaker s earnings dropped significantly because of its European operations