Connect with us

Business

Tata Steel posts Q4 net loss of Rs.3,279 crore

Published

8 years ago

on

tata steelMumbai: Tata Steel on Wednesday posted a net loss of Rs.3,279 crore for the fourth quarter ended March caused by one-off costs associated with its European business.

The company said in a statement that fourth quarter earnings were impacted due to one-off costs associated with the Britain business, such as impairment of non-current assets (Rs.1,724 crore), employee separation compensation (Rs.239 crore) and restructuring and other provisions (Rs.856 crore), among others.

“While the pressure on the product prices continued during the quarter both in India and in Europe, our operations during the quarter were very resilient across most of the geographies and have reported much improved underlying performance compared to the previous quarter,” said Tata Steel ED (Finance) Kaushik Chatterjee.

The company’s consolidated revenues for the quarter in question of Rs.29,507 crore were down 12.4 percent from Rs.33,666 crore in the same period a year ago.

Earinings before interest, tax, depreciation and amortisation (EBITDA), or operating income, during the fourth quarter of Rs.2,270 crore, increased 43.7 percent from Rs.1,580 crore last year.

From its India business, the company recorded a net profit of Rs.676 crore and EBITDA of Rs.2,188 crore on revenues of Rs.10,522 crore.

“Despite muted market environment, Tata Steel India operations recorded strong growth in the quarter and volumes grew by 16 percent on the back of growth in high valuesegments like auto and branded products,” the company said.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending