Tata Steel arm TCIL Q2 net loss narrows to Rs 2.29 crore

New Delhi: The Tin Plate Company of India Ltd (TCIL) on Monday said its net loss had narrowed to Rs 2.29 crore in the September quarter.

It had clocked a net loss of Rs 35.10 crore during the July-September period of the preceding financial year, TCIL said in a regulatory filing.

The company earned a total income of Rs 959.95 crore, down from Rs 971.77 crore in the year-ago period.

Its expenses declined to Rs 963.07 crore in the first quarter of the current fiscal from Rs 1,018.27 crore last year.

Domestic steel major Tata Steel owns a majority stake in the Kolkata-headquartered TCIL, a tinplate producer.

From its plant in Jamshedpur (Jharkhand), TCIL caters to 40 per cent of the overall domestic market and exports 15-20 per cent of its sales to different countries.