IIP grows at subdued 0.7% in September
New Delhi: Industrial production grew a meagre 0.7 per cent in September mainly due to poor show by manufacturing and mining sectors coupled with decline capital goods output. The factory output for the April-September period of the current financial year declined by 0.1 per cent compared to 4 per cent growth in the year-ago period, as per the data released by Central Statistics Office on Friday. Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 3.7 per cent in September last year.
Tata Steel posts Q2 net loss of Rs 49.38 cr
New Delhi: Tata Steel on Friday reported a consolidated net loss of Rs 49.38 crore for the second quarter ended September 30, 2016-17.
It had posted net profit of Rs 5,609.43 crore in the same quarter of last fiscal 2015-16. The total consolidated income of the steel giant rose marginally to Rs 27,471.15 crore in July-September quarter of the current fiscal, from Rs 27,456.30 crore a year ago. The firm’s total expenses were however lower at Rs 25,968.85 crore.