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

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

Reuters October 31, 2017 07:51:04 IST
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

Tata Steel posts Rs 1018 cr profit in JulSep with rampup of Kalinganagar plant misses estimates

Reuters

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

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