Tata Steel Europe reports $100m October-December 2015 loss

The European subsidiary of India’s Tata Steel Group saw its losses increase quarter-on-quarter in October-December 2015, it said on Thursday February 4.


Tata Steel Europe’s earnings before interest, taxes, depreciation and amortisation (Ebitda) for the fourth quarter of 2015 showed a negative figure of Rs6.75 billion ($99.68 million), an increase from the loss of Rs2.38 billion ($35.15 million) reported for July-September.
This compared with a positive Ebitda figure of Rs13.08 billion ($193.17 million) in the corresponding October-December quarter of 2014.

Turnover for the last three months of 2015 declined by 15.75% to Rs163.44 billion ($2.41 billion) compared with Rs193.99 billion ($2.86 billion) in the corresponding period in 2014.
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Published

Viral Shah

February 05, 2016

10:45 GMT

London