Tata Steel reports three-fold jump in second-quarter profit
Indian steelmaker Tata Steel Ltd reported a more than three-fold rise in second quarter net profit on Tuesday, handily beating market estimates, helped by strong sales in India.
Indian steelmaker Tata Steel Ltd reported a more than three-fold rise in second quarter net profit on Tuesday, handily beating market estimates, helped by strong sales in India.
Net profit came in at 31.16 billion rupees ($428.79 million)in its fiscal second quarter ended Sept. 30 from 10.18 billion rupees a year earlier, the company said in a statement. https://reut.rs/2QDABeI
Thirteen analysts on an average had expected the Mumbai-based firm to post a profit of 22.47 billion rupees, according to I/B/E/S data from Refinitiv.
Total revenue from operations rose 34.1 percent to 435.44 billion rupees.
($1 = 72.6700 Indian rupees)
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