New Delhi: Tata Steel has created a liquidity war-chest of Rs 20,144 crore for the financial crisis that followed the Corona epidemic and any such emergency. The company has incurred a huge loss of Rs 4,648 crore in the June quarter. It is noteworthy that Tata Steel has increased the liquidity buffer ie 43.6% in excess cash during January to June.

Kaushik Chatterjee, executive director and CFO of the company, said that the company will use this additional cash later on when it is needed. Tata Steel has incurred a consolidated loss of Rs 4,648.13 crore in the first quarter of this financial year, ending in June of the current financial year. The company has come under losses mainly due to lower-income. In the same quarter of the previous financial year, the company made a net profit of Rs 714.03 crore. In the information sent to the BSE, the company said that its total income has come down to Rs 24,481.09 crore during the quarter, while the company's total income was Rs 36,198.21 crore in the same quarter of the previous financial year.

As of March 2020, the company had cash of Rs 17,745 crore. Let us tell you that Tata Steel is a major steel producer in India and Europe. The company has started creating cash reserves for the necessary expenses such as loan payments and fixed costs.

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