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Tata Steel swings to profit in first quarter, but lags estimates

Reuters 

- Ltd swung to a first-quarter profit from a loss a year ago, as sales volumes were boosted by the ramp-up of its Kalinganagar plant.

The steelmaker's net profit came in at 9.21 billion rupees ($144.37 million) in the quarter ended June 30, compared to a loss of 31.83 billion rupees a year earlier. (http://bit.ly/2vdWpU5)

Analysts on average had expected a net profit of 10.43 billion rupees, according to Thomson data.

($1 = 63.7950 rupees)

(Reporting by Krishna V Kurup in BENGALURU; Editing by Tom Hogue and Adrian Croft)

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

First Published: Mon, August 07 2017. 17:41 IST
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