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Tata Steel faces Rs 1,096 crore loss in Q1, 2020

30 Jun 2020 14:22 reported by Allen

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According to the financial report of Tata Steel, one of the leading steelmakers in the world, it had faced dramatic losses in the first quarter this year, with around Rs 1,096 crore, which decreased by nearly 55% year on year.

The main reason for the dramatic decline in Tata’s profit performance was mainly caused by the impact of the Covid-19, which heart the global economic activities and global trading strongly.

Currently, the utilization of Tata Steel Europe was remained to stay at around 70%, waiting for the resume of demand from the automotive and construction industries.

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