Business Companies 07 Aug 2017 Tata Steel swings to ...

Tata Steel swings to profit in first quarter, but lags estimates

REUTERS
Published Aug 7, 2017, 6:19 pm IST
Updated Aug 7, 2017, 6:19 pm IST
Steel maker's net profit came in at Rs 921 crore or $144.37 million in quarter ended June 30.
Tata Steel is country's major steel producer.
 Tata Steel is country's major steel producer.

Mumbai: Tata Steel Ltd swung to a first-quarter profit from a loss a year ago, as sales volumes were boosted by the ramp-up of its Kalinganagar plant.

The steel maker's net profit came in at 9.21 billion rupees ($144.37 million) in the quarter ended June 30, compared to a loss of 31.83 billion rupees a year earlier.

 

Analysts on average had expected a net profit of 10.43 billion rupees, according to Thomson Reuters data.

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