December 03, 2019
Some environment and infrastructure expenses
For the full year, the net loss jumped almost nine times to Rs 4,169 crore from
Rs 497 crore in FY16 while sales grew to Rs 1. Mumbai: Tata Steel narrowed its
losses in the quarter ended March 31, to Rs 1,168 crore down from Rs 3,042 crore
in the corresponding quarter last year on the back of a one-time non-cash
pension curtailment charge.17 trillion from Rs 1.06 trillion.The key commercial
terms for the Regulated Appointment Arrangement (RRA) have been agreed in
principle and the RAA will become effective once agreed conditions are
satisfied, he added. The exceptional items that contributed to the loss,
including the non-cash pension curtailment charges, aggregated to Rs 4,069 crore
in the January-March quarter, and Rs 4,324 crore for the year, the company said.
Last year, the company also sold its speciality steel business to Liberty House
Group for 100 million pound. Benefits from exports that accrued helped the
fourth quarter performance, and we expect to export over a million tonnes next
year as well," TV Narendran, managing director, Tata Steel India told reporters
here.The revenues rose to Rs 35,305 crore for the quarter under consideration,
up 30. While this will taper off, the company expects a capex of Rs 7,000 crore
next year.4 per cent from Rs 27,071 crore.Revenues rose to Rs 35,305 crore for
the quarter under consideration, up 30. Regarding the impending pension scheme
in the UK, the company said it will reach a final agreement shortly.4 per cent
from Rs 27,071 crore for the corresponding quarter in the previous fiscal.
Besides, some environment and infrastructure expenses at our facilities in
India, and a specific structural improvement programme in Netherlands, will call
for a similar level of Capex of about Rs 7,000 crore this year," Chatterjee
said."We have some raw material capacity expansion that we are undertaking
through expansion of our mines.Regarding capex, the steelmaker finished a
significant part of its Orissa project, which was the single largest part of the
capacity expansion profile at Rs 6000 crore last year."
As far as India is
concerned, the Kalinganagar project has helped operations, and the ferro alloys
division have done very well.. For the full year, the net loss jumped almost
nine times to Rs 4,169 crore from Rs 497 crore in FY16."Positive conversation
with all the stake holders, namely the Pensions Regulator, the British Steel
Pension Scheme Trustee and the Pension Protection Fund and we are hopeful of
reaching a final agreement shortly," Koushik Chatterjee, hexagonal nut
Suppliers group executive director (finance and corporate) said
Posted by: xpsshowercco at
03:18 AM
| No Comments
| Add Comment
Post contains 428 words, total size 3 kb.
11kb generated in CPU 0.0689, elapsed 0.0785 seconds.
33 queries taking 0.0606 seconds, 46 records returned.
Powered by Minx 1.1.6c-pink.
33 queries taking 0.0606 seconds, 46 records returned.
Powered by Minx 1.1.6c-pink.
