Tata Steel Swings to Third-Quarter Loss as Imports Hurt Margins

Tata Steel Ltd., India’s biggest producer, posted a third-quarter loss as rising imports of the alloy pressured prices and a global glut hurt its European operations.

Tata’s net loss was 21.3 billion rupees ($315 million) in the three months through December, compared with a profit of 1.57 billion rupees a year earlier, the Mumbai-based company said on Thursday. Sales, over two-thirds of which came from outside India last fiscal year, fell 17 percent to 278.2 billion rupees, short of the 283.4 billion-rupee average estimate in a Bloomberg survey.

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