Tata Steel Q1 net profit more than doubles

Reuters Mumbai | Updated on January 23, 2018 Published on August 11, 2015

Tata Steel Ltd on Tuesday posted a 17 per cent drop in consolidated net sales for the April-June quarter, as a flood of cheaper imports hit steel prices.

The company’s net profit for the period ended June 30 more than doubled to Rs 763 crore ($118.82 million), on a consolidated basis, from Rs 337 crore a year earlier.

The profit was helped by a one-time gain of Rs 158 crore compared with a charge of Rs 262 crore in the year-ago quarter.

Consolidated net sales for the quarter fell to Rs 2,990 crore. ($1 = 64.2150 Indian rupees)

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on August 11, 2015
This article is closed for comments.
Please Email the Editor