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Tata Steel posts quarterly loss
India’s Tata Steel, the world’s seventh biggest steelmaker, yesterday posted an unexpected quarterly loss, its first in more than two years, as higher raw material costs and weak demand in Europe hurt margins. Tata Steel reported a net loss of 6.87bn rupees for its fiscal third quarter ended December, compared with a net profit of 9.49bn rupees a year earlier. Net sales rose 15 per cent to 329.64bn rupees.