Tata Steel posts Rs 1,018 cr profit in Jul-Sep with ramp-up of Kalinganagar plant, misses estimates

Tata Steel Ltd posted a consolidated September-quarter profit of Rs 1,018 crore boosted by strong volume growth following the ramp-up of its Kalinganagar plant in India. It missed analysts estimates of a profit of Rs 1678 crore.

The company had reported a consolidated net loss of Rs 49.38 crore in the July-September quarter a year ago, Tata Steel said in a filing to the BSE



Total income during the second quarter increased to Rs 32,717.35 crore as against Rs 27,228.50 crore in the year-ago period.

Deliveries from India operations grew 17 percent year-on-year to 3.08 million tonnes in the quarter. During July-September 2017, total expenses of the company were also higher at Rs 30,566.68 crore as compared to Rs 26,866.49 crore a year ago.

Shares of Tata Steel closed 1.18 percent lower on Monday ahead of the results

Updated Date: Oct 31, 2017 07:51 AM

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