'Need to cut losses in Europe'

Tata Steel never had to support Dutch unit, except in the last quarter. Meanwhile, UK operation is still struggling

- Nehal Chaliawala

Tata Steel must stem losses in its European operations, managing director T.V. units in the UK and the Netherlands dragged down the company's consolidated earnings in the December quarter.

"What is important is to stop the bleeding in Europe," Narendran said in an interview.

Tata Steel's India operations remain robust, Narendran said. "The India business is very strong from an Ebitda and cashflow point of view.

Even if you see last quarter, it was not as though steel prices were in a great place; still, our Ebitda margin was about 24%," Narendran said.

Narendran said, after its As the capital support required by its European units goes down, the India unit will be able to fund the 10,000-15,000 crore of growth capex needed annually from its cashflows.