E-Paper
Tata Steel Q1 net slumps, lags estimate
Tata Steel posted a sharp decline in first-quarter profit, hit by weak demand and prices in its main European market. Net profit after minority interest and share of associates was Rs. 5.98 billion for the quarter ended June.
Updated on: Aug 13, 2012, 19:23:31 IST
Share via
Copy link
Tata Steel posted a sharp decline in first-quarter profit, hit by weak demand and prices in its main European market.
Net profit after minority interest and share of associates was Rs. 5.98 billion ($108 million) for the quarter ended June, compared with a profit of Rs. 53.5 billion, including one-time gains of about Rs. 40 billion, a year earlier.
A Reuters poll of brokerages had forecast net profit of Rs. 6.7 billion.
Shares in Tata Steel, valued at $7 billion, closed down 1.2% ahead of the results.
Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator
