Tata Steel reported consolidated net loss of Rs 602.67 crore today for the third

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quarter ended December 31, on account of higher raw material costs and lower profits from domestic operations.

The company had reported net profit of Rs 1,003.02 crore during the October-December quarter in 2010-11.

Consolidated net sales of the company, however, rose by 15.23 per cent to Rs 32,964.15 crore during Q3, FY 2011-12, vis-a-vis Rs 28,606.15 crore of the October-December quarter of FY'11, Tata Steel said in a filing to the BSE.

The company's raw material costs increased 20.59 per cent to Rs 12,618.69 crore in the Q3, compared to Rs 10,464.37 crore in the same quarter last fiscal.

The consolidated results of the Tata Group company include its operations in Europe and South-East Asia.

On a standalone basis, company's net profit declined by a little over 6 per cent to Rs 1,421.26 crore during the October-December, quarter vis-a-vis Rs 1,513.46 crore of the Q3 of FY'11.

However, the standalone net sales of the company were up 13.38 per cent to Rs 8,304.58 crore.