Tata Steel shares fell nearly 4% in early trade on Tuesday after the company reported a consolidated net loss of Rs 2,501.95 crore for the third quarter.
The scrip fell 3.83 per cent to Rs 113.10 apiece in the morning trade on the BSE. It fell 3.66 per cent to Rs 113.15 per share on the NSE.
The financial results of the company came after market hours on Monday.
The 30-share BSE Sensex was trading 71.32 points, or 0.12 per cent lower at 60,435.58 in the morning trade.
Due to rising expenses, Tata Steel revealed on Monday a combined net loss of Rs 2,501.95 crore for the three months ending in December 2022.
The company reported in a regulatory filing that it generated a net profit of Rs 9,598.16 crore in the same period last year.
Its overall revenue on a consolidated basis decreased from Rs 60,842.72 crore to Rs 57,354.16 crore in the quarter ending in December.
The company's expenses increased from Rs 48,666.02 crore to Rs 57,172.02 crore in the quarter under review.
With inputs from Agencies.
