Tata Steel back in black, net profit at Rs 1,825 cr

Tata Steel, the world's seventh-largest steel maker by output, on Thursday reported a June quarter net profit of Rs 1,825 crore, but lagged market expectations as demand remained sluggish at European unit Corus.

Tata Steel, the world's seventh-largest steel maker by output, on Thursday reported a June quarter net profit of Rs 1,825 crore, but lagged market expectations as demand remained sluggish at European unit Corus.

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The steel maker reported a net profit after minority interest and share of profit of associates, compared with a consolidated net loss of Rs 2,210 crore a year ago. Net sales were Rs 27,195 crore compared with Rs 23,290 crore a year earlier.

Shares in Tata Steel, valued by the market at $10.6 billion, have declined about 13 per cent so far in 2010, compared with a 4 per cent rise in the Sensex.