
Tata Steel shares fall 5% on surprise loss in Dec quarter
The steel major posted a consolidated net loss of ₹2,223.84 crore for Q3 FY23, against a profit of ₹9,572.67 crore in the same quarter last year.
The steel major posted a consolidated net loss of ₹2,223.84 crore for Q3 FY23, against a profit of ₹9,572.67 crore in the same quarter last year.
On January 27 last year, the soft-to-software conglomerate took over the management and control of Air India from the government, after 69 years.
The aviation regulator last week slapped ₹30 lakh fine on Air India for an incident in which a drunk male passenger urinated on a woman. The airline has banned the accused for 4 months.
As the first anniversary of Tata Group's ownership of this legendary airline comes up, there are more misses than hits on the pitch.
This is the second show-cause notice from the aviation regulator to Air India within five days.
The company's consolidated income stood at ₹16,201 crore in FY22 as against ₹5,463 crore in the same period last year.
The conduct of the airline appears to be unprofessional, and has led to systemic failure, says DGCA.
Despite causing harassment to woman, no immediate action was allegedly taken against the accused. The airline says it has filed a complaint and also formed a committee to look into the matter.
Critical questions stare India's largest private airline as it gears up to face its first dose of real competition.
India's rising share of global manufacturing to prop up short-term output drag, he says.