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Tata Steel Q3 net falls 69% as cheaper Chinese imports hit India business

Feb 07, 2015    

New Delhi - Notwithstanding an improved show by its European operations, Tata Steel today reported a 69 percent dip in consolidated net profit for the October-December quarter at Rs 157 crore impacted by subdued performance of its Indian unit, which has always been its cash-cow.The company had clocked Rs 503 crore net profit after taxes, minority interest and share of profit of the associates during the October-December quarter of the last fiscal."The third quarter performance was affected by adverse macro headwinds in terms of declining commodity prices, increasing in Chinese exports and...

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