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Tata Steel sees better 2HFY10
Tata Steel, the world's No 8 steelmaker by output, expects a sharply better performance in the second half of the financial year and a company executive said its earnings before interest, tax, depreciation and amortization (EBITDA) turned positive in October.
Tata Steel , the world's No 8 steelmaker by output, expects a sharply better performance in the second half of the financial year and a company executive said its earnings before interest, tax, depreciation and amortization (EBITDA) turned positive in October.
Earlier, Tata Steel reported a consolidated quarterly net loss, hurt by the weak performance of its European unit Corus.
The company will see a trend reversal in profitability in the second half of the financial year, the executive said, adding it has sufficient liquidity, in excess of USD 3 billion.
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