NEW DELHI, Feb. 14 -- Tata Steel Ltd's third-quarter (Q3) numbers were unimpressive across major segments and have given investors something new to worry about. The prospect of weak sales and lower realizations dragged the stock down nearly 6% on Monday.
Revenue declined 9% year-on-year in Q3 on weak steel demand. Its European operations particularly saw a slump in demand from auto firms, which account for about 40% of sales volume. Besides, hot-rolled coil prices have also come off. Additionally, Tata Steel said spreads during Q3 dropped from E280 per tonne to E180 per tonne, which led to an Ebitda (earnings before interest, taxes, depreciation, and amortization) loss in Europe.
Ebitda loss of $54 per tonne during Q3 in its European opera...