Tata Steel Swings To Profit In Third Quarter

February 8, 2017, 11:27 AM
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Tata Steel, which also has operations in Europe, had posted a consolidated net loss of Rs. 2,748 crore in the year-ago quarter.

Tata Steel posted a consolidated net profit of Rs. 232 crore in its fiscal third quarter.Mumbai: India’s Tata Steel Ltd posted a consolidated net profit of Rs. 232 crore ($34.4 million) in its fiscal third quarter on higher sales.

The steelmaker, which also has operations in Europe, had posted a consolidated net loss of Rs. 2,748 crore in the year-ago quarter.

Revenue rose 14 per cent from a year earlier to Rs. 29,392 crore for the three months to Dec. 31, the company said in a stock exchange filing.

Analysts, on average, had expected a net profit of Rs. 174 crore, according to data compiled by Thomson Reuters.

($1 = Rs. 67.4200)
© Thomson Reuters 2017 – NDTV

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