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Tata Steel posts fourth-quarter profit


(Reuters) - Ltd on Wednesday posted a net profit of 146.88 billion rupees ($2.17 billion) for the quarter ended March 31, aided by a one-time gain.

The Indian steelmaker saw an exceptional gain of 113.76 billion rupees in the quarter, which included a gain from the restructuring of its UK pension scheme.

The company had a loss of 11.68 billion rupees a year earlier, it said.

($1 = 67.7925 Indian rupees)

(Reporting by Krishna V Kurup in Bengaluru; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 18:27 IST