The Indian steelmaker on Wednesday reported an exceptional gain of Rs 11,376 crore in the quarter to the end of March, which included a non-cash gain of Rs 14,077 crore relating to the restructuring of its British pension scheme.
Britain's pensions regulator agreed last year to allow Tata Steel UK to cut pension scheme liabilities, the main stumbling block in Tata's efforts to merge its European operations with Germany's Thyssenkrupp.
In the same quarter last year, Tata Steel booked charges of Rs 4,069 crore, including curtailment charges relating to the closure of Tata Steel Europe's pension scheme.
Tata Steel shares were 0.8 per cent lower ahead of its results on Wednesday.
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