Jul-Sept net loss for Tata Steel Long Products shrinks to Rs 460 crore

16 Oct 2023 , 02:37 PM

Tata Steel Long Products Ltd (TSLP) reported on Friday that its combined net loss for the three months ending in September decreased to Rs 460.23 crore. The company reported in a regulatory filing that it had recorded a net loss of Rs 661.80 crore in the comparable period last year.

According to the corporation, total revenue increased from Rs 1,921.01 crore in the same time last year to Rs 3,005.46 crore this year. According to the filing, expenses increased to Rs 3,442.03 crore from Rs 2,696.25 crore the previous year.

High alloy steel is produced by TSLP, previously Tata Sponge Iron Ltd, particularly for the wire rope and automotive industries.

It is one of the largest special steel facilities in India for long products, with a one million tonne capacity, and is situated in Jamshedpur, Jharkhand.

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