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Nov 09, 2012, 08.07 PM IST | Source: Reuters

Tata Steel posts surprise loss in Q2

Tata Steel reported on Friday a surprise quarterly loss of Rs 364 crore, as weakening demand and prices in its main European market offset a solid performance at home.

Tata Steel posts surprise loss in Q2

Tata Steel reported on Friday a surprise quarterly loss of Rs 364 crore, as weakening demand and prices in its main European market offset a solid performance at home.

A Reuters poll of brokerages had forecast net profit of Rs 260 crore.

The net loss for the quarter ended September compared with a profit of nearly Rs 600 crore a year earlier.

Shares in Tata Steel, valued at USD 7.2 billion, extended losses to more than 4 percent after the results announcement.

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