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 $7.2 billion, extended losses to more than 4 per cent after the results were announced.
Copyright: Thomson Reuters 2012
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
